Regions Financial Corp. moved to strengthen its franchise in northwest Georgia with a definitive agreement to acquire an $89 million-asset thrift.

Regions, based in Birmingham, Ala., said Monday it would pay $15.8 million, or 1.3 times book value, for First Federal Bank of Northwest Georgia. First Federal, with $76 million in deposits, is headquartered in Cedartown and has a branch in nearby Rockmart.

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