ATLANTA -- First Alabama Bancshares Inc. won a bidding battle to buy Secor Bank, Alabama's largest thrift, for about $139.4 million, or 123% of estimated book value.

The Birmingham-based bank company, which has $7.9 billion in assets, said late Tuesday that it would purchase the $2 billion-asset thrift with a combination of stock to Secor shareholders and cash to the Federal Deposit Insurance Corp.

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