BIRMINGHAM, Ala. - Secor Bank's stockholders approved its acquisition by First Alabama Bancshares, Secor said.

I said the transaction is scheduled to close Dec. 31.

Under the terms of the merger agreement, each Secor common share will be converted into 0.684 of a First Alabama share when the deal closes. Both banking companies are based in Birmingham.

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.