South Carolina's First Citizens Makes a Deal in Georgia

First Citizens Bancorp Inc. in Columbia, S.C., is expanding its reach in Georgia with a deal to buy the $145 million-asset Merchants and Farmers Bank of Comer for $37 million.

The $6.1 billion-asset First Citizens said that Merchants would operate as a separate subsidiary after the deal closes next quarter.

Merchants has six branches in Madison County, where it had a deposit share of 70.5% as of June 30, according to the Federal Deposit Insurance Corp.

First Citizens announced the deal Wednesday.