Fast-growing Banc Corp. of Birmingham, Ala., struck another deal last week, announcing it would buy BankersTrust of Alabama Inc. for an undisclosed price.
Banc Corp. is the parent of The Bank, a $415 million-asset institution based in Warrior, Ala., with 17 branches. The agreement calls for $45 million-asset BankersTrust, based in Madison, to be merged into The Bank.
This deal is the latest of many lately for Banc Corp., formerly Warrior Capital Corp. The company closed four bank mergers in Alabama in the last three months of 1998 while simultaneously going public. Trading of Banc Corp. shares began in December.
The company also has a deal pending to buy Emerald Coast Bancshares of Panama City Beach, Fla., a $77 million-asset company with four branches.
James A. Taylor, Banc Corp.'s chairman and chief executive officer, said BankersTrust's two offices are in markets with "some of the most attractive growth and business opportunities in the state of Alabama." The companies hope to close the deal during the second quarter.