BIRMINGHAM, Ala. - First Alabama Bancshares Inc. said it has entered into an agreement to acquire Republic Bancshares of Nashville, Tenn., and its subsidiary, Franklin County Bank of Winchester, Tenn.

First Alabama said it would distribute 215,000 shares of common stock to Republic and Franklin shareholders on a pro rata basis. Those shares would be worth about $7.2 million at the current stock price.

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