BIRMINGHAM, Ala. Alabama National Bancorp. said last week that it has an agreement to buy Farmers National Bancshares Inc. in Opelika, Ala., for $17.1 million of cash and stock.
The deal, announced late Thursday, would give Alabama National entry into the Opelika area, about 60 miles northeast of Montgomery. Farmers National, with $200 million of assets, would keep its name and charter, joining the 11 other subsidiaries of $2.6 billion-asset Alabama National. The deal is expected to close in the fourth quarter.