Fidelity Southern in Atlanta has agreed to buy American Enterprise Bankshares in Jacksonville, Fla.

The $3.5 billion-asset Fidelity said in a press release Monday that it will pay $27 million in stock for the $205 million-asset American Enterprise. The deal is expected to close in the first quarter.

Fidelity said it expects the acquisition to be immediately accretive to its fully diluted earnings per share and tangible book value per share, excluding transaction costs.

Fidelity was advised by FIG Partners and Troutman Sanders. American Enterprise was advised by Hovde Group; Smith, Gambrell & Russell; and Kirschner & Legler.

Fidelity has been focused on expansion in Florida, agreeing to buy loans and deposits in the state from Florida Capital Bank and eight branches around Sarasota from First Banks in Clayton, Mo.

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