BancorpSouth Inc. has struck another deal in Alabama, its third this year.
The Tupelo, Miss.-based company said it would buy HomeBanc Corp., Guntersville, for $43 million in stock. HomeBanc is the parent of $162 million-asset Home Bank, which has four branches.
BancorpSouth, with $4.5 billion of assets, is the parent of three banks with 151 branches in Alabama, Mississippi, and Tennessee. The company also has announced plans to buy First Corp. of Opelika, in Alabama, and Merchants Capital Corp., Vicksburg, Miss.
On Oct. 30, BancorpSouth bought Alabama Bancorp, Birmingham, a two-bank holding company. BancorpSouth said it hopes to close its deal for HomeBanc during the first quarter.