ATLANTA -- BMR Financial Group Inc. said it completed a definitive agreement to be acquired by SouthTrust Corp. of Birmingham, Ala.
SouthTrust agreed to pay $6.30 in cash for each outstanding BMR common share, or $16 million.
After selling other subsidiaries, BMR is left with Ameribank in Clearwater, Fla., and Community First Bank of Central Florida, Winter Garden, with combined assets of $97.4 million and shareholders' equity of $14.5 million.
BMR and SouthTrust, which has $13.4 billion in assets and banking operations in six states, said they expect the transaction to close by yearend.
