Security Bancshares in Paris, Tenn., has agreed to buy Bancshares of Ripley in Ripley, Tenn.
Security is the $1.2 billion-asset parent of Security Bank and Trust, while Bancshares of Ripley is the holding company for the $280.1 million-asset Bank of Ripley.
The merger was announced by Performance Trust Capital Partners, which was an advisor for the deal. The price wasn’t disclosed.