DECATUR, Ala. BNF Bancorp said its stockholders have approved the company's planned acquisition by Union Planters Corp. of Memphis, clearing the way for completion of the transaction today.

Each BNF share. is to be exchanged for 1.078 shares of Union Planters common stock.

BNF's subsidiary Bankfirst, a saving bank with seven full-service. offices in north-central Alabama, will become a wholly owned subsidiary of $7 billion-asset Union Planters, which has 43 banks .and-239 banking offices in Tennessee, Mississippi, Arkansas, Kentucky, and Alabama.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.