BIRMINGHAM, Ala. - First Alabama Bancshares said it expects its pending acquisition of Secor Federal Savings Bank to increase earnings per share by 3% to 5% in the first year.

First Alabama, which earned $2.86 a share in 1992, expects to complete the transaction by yearend.

The company said a 30-day due diligence review is under way. The Secor deal and others pending would increase its assets to $10.2 billion, from $7.9 billion.

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.