Premier Bancshares, Atlanta, said it would buy Frederica Bank and Trust, St. Simons Island, Ga., in a stock deal valued at $24.7 million.

Premier, which wrapped up two other acquisitions this month, said the Frederica deal would give it a toehold in Georgia's southern coastal market-an area with solid population growth potential. Frederica has $72 million of assets and holds a 25% share of deposits on St. Simons Island.

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