NBC Capital Corp. said Thursday that it has a deal to buy FFBS Bancorp, Columbus, Miss., for $50.6 million in stock. FFBS, the parent of First Federal Bank for Savings, has $160 million of assets and four offices. The acquisition is expected to be completed this summer.
The agreement calls for NBC Capital to exchange 0.7702 shares of its common stock for each share of FFBS. The deal will be accounted for as a pooling of interest.