Fidelity Southern in Atlanta has agreed to buy the Florida branch network of First Banks Inc. of Clayton, Mo.
The $3.2 billion-asset Fidelity said in a press release Wednesday that it will buy eight branches, about $154 million in deposits and $32 million in loans and other assets. Fidelity will pay a 1% premium for the deposits.
The branches are located in the Sarasota area, specifically in Bradenton, Longboat Key and Palmetto. Fidelity and the $6 billion-asset First Banks expect to complete the deal in the third quarter.