Legacy Community Federal Credit Union has agreed to buy First Community Bank of Cullman in Alabama.
The $642.9 million-asset Legacy did not disclose how much it will pay Southern Community Bancshares as part of the all-cash transaction for the $103.6 million-asset First Community. The deal is expected to close later this year.
First Community has one branch, $80.9 million in loans and $79.3 million in deposits.
Hovde Group, which announced the deal, advised Southern Community.