Renasant (RNST) in Tupelo will buy First M&F (FMFC) in Kosciusko in a merger of Mississippi banks.

The $4.2 billion-asset Renasant agreed to pay about $119 million in stock for First M&F in a deal announced Thursday. The acquisition would give Renasant an additional $1.6 billion in assets, $1.4 billion in deposits and 36 branches in Mississippi, Alabama and Tennessee.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.