ROCHESTER, N.Y. -- FNB Rochester Corp. said it has signed a letter of intent to sell its Atlanta, N.Y., National Bank to Bath National Bank, a unit of Bath National Corp.

FNB Rochester said it would be paid cash equal to Atlanta National's book value plus $550,000, with the amount to be spelled out in a definitive agreement.

Atlanta National has $17 million of assets; FNB Rochester's total assets are $300 million.

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.