MEMPHIS, Tenn. - Union Planters Corp. said it has entered into an agreement to acquire the Bank of Commerce in Woodbury, Tenn., from Volunteer State Bancshares.
The $3.7 billion-asset Union Planters said Bank of Commerce would continue to operate under its current name and management after the acquisition
In another transaction, Union Planters said its Union Planters National Bank subsidiary has agreed to purchase from Volunteer State Bank in Portland, Tenn., a $4 million-deposit branch in Smyrna. The name would be changed to Union Planters National Bank.
Terms of the acquisitions were not available.
Union Planters said it experts to complete both transactions by yearend. The acquisitions are subject to regulatory approvals.