JACKSON, Miss -- Deposit Guaranty Corp. said it has begun a tender offer for the outstanding shares of First Columbus Financial Corp.

The transaction is valued at $50 million, or two times the Columbus, Miss., company's book value. The offer, conditioned on regulatory approvals, is scheduled to expire on Jan. 24 unless extended.

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.