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.

Mechanics Bancorp in Walnut Creek, Calif., agreed to sell its Fannie Mae Delegated Underwriting and Servicing business line to Fifth Third Bancorp in Cincinnati. The $22.7 billion-asset Mechanics, which inherited the business through its purchase of HomeStreet, said that Fifth Third will pay an undisclosed cash amount for the line. The deal is expected to close in the first quarter. The business is a specialized division focused on multifamily lending

KeyCorp in Cleveland is taking itself off the board when it comes to buying banks. The company made it clear during its presentation at a conference hosted by Goldman Sachs, stating in a slide that it is "not pursuing depository acquisitions." Key also noted in a slide that it expects to repurchase about $200 million of its stock in the fourth quarter. The updates come shortly after HoldCo Asset Management

Home BancShares in Conway, Ark., has agreed to buy Mountain Commerce Bancorp in Knoxville, Tenn. Home said in a press release that it will pay $150.1 million in stock for the parent of the $1.8 billion-asset Mountain Commerce Bank. The merger, which is expected to close early in the first half of 2026, priced Mountain Commerce at 105% of its tangible book value. The transaction should be 1.4% accretive to 2026

The organizers of the proposed Private Bank & Trust plan to raise at least $27 million in initial capital. The group recently applied to open the bank in Gainesville, Ga. Private Bank is being positioned as a high-touch, relationship-driven institution focused on small businesses, professionals and affluent households. Organizers expect up to three-fourths of banking activity to originate in Hall County, according to the application with the Federal Deposit Insurance

Monet Bank in Plano, Texas, is planning a push into crypto lending and custody. The $4.5 billion-asset bank, owned by Andy Beal, is now positioning itself as an "infrastructure bank" that will focus on digital assets. "Monet is focused on being the premier digital asset financial institution, providing innovative and forward-facing solutions for the digital economy," according to the bank's website. The bank, formed as Beal Savings Bank in the

West Union Bank in West Virginia is setting the stage for a new president and CEO. West Union said in a press release that Thomas Whaling, who has spent more than two decades leading the bank, will retire in January. “Tom has always led by example, treating other people the way he wants to be treated," the bank said in the release. "Some qualities that make Tom a great leader

Primis Financial in McLean, Va., entered into a sale-leaseback transaction for 18 branches. The $4 billion-asset company said in a press release that it sold the locations to MountainSeed for a pretax gain of $50 million. Separately, Primis plans to sell $144 million of securities at a pretax loss of $14.8 million. About $50 million of the proceeds will fund near-term loan growth, with the rest reinvested in higher-yielding securities.