River Financial expanding in southern Ala. with latest acquisition
River Financial in Prattville, Ala., has agreed to buy Trinity Bancorp in Dothan, Ala.
The $1.1 billion-asset River Financial said in a press release Wednesday that it will pay $27.1 million in cash and stock for the parent of the $165 million-asset Trinity Bank. The deal is expected to close in the fourth quarter.
River Financial will have 17 branches, $875 million in loans and $1 billion in deposits when the deal closes.
Brian McLeod, a Trinity director, will join River Financial’s board.
Trinity was advised by Porter White Capital and Jones Day. River Financial was advised by Jones Walker.