BIRMINGHAM, Ala. — The Banc Corp. announced Thursday that it had agreed to acquire CF Bancshares Inc. in Port St. Joe, Fla.

The price in the cash-or-stock deal was not disclosed.

CF’s $105 million-asset Citizens Federal Savings Bank has three branches in the Florida Panhandle, where $1.6 billion-asset Banc Corp. has seven. The rest of Banc Corp.’s 29 branches are in Alabama.

The deal is expected to close in the fourth quarter.

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.