First American Corporation said it has reached a definitive agreement to buy Middle Tennessee Bank for about $57 million.

Under the agreement, shareholders of Middle Tennessee, based in Columbia, Tenn., would receive 7.768 shares of First American for each of their shares in a tax-free exchange.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.