FirstBanc of Alabama in Talladega has agreed to buy FBDC Financial in Fort Payne, Ala.
The $1.1 billion-asset FirstBanc will pay $20.5 million in cash and stock for the parent of the $162 million-asset First Fidelity Bank. The deal is expected to close in the second quarter.
One FBDC director will join FirstBanc’s board.
Olsen Palmer advised FirstBanc. Performance Trust Capital Partners advised FBDC.