Nashville's First American Corp. has a deal to buy Peoples Bank of Dickson (Tenn.) for $48 million in stock.

Peoples Bank, with $135 million of assets, has six branches in two counties west of Nashville.

"The addition of Peoples Bank is an excellent opportunity for First American to expand our presence in middle Tennessee and strengthen our core bank in an area of high growth," said Dennis C. Bottorff, chairman and chief executive of $11 billion-asset First American. Mr. Bottorff said he expects the deal to close this year.

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