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Talladega, Ala.-based FirstBanc of Alabama Inc., the parent of First Bank of Alabama, agreed to acquire Wedowee, Ala.-based Swann Bancshares Inc. and unit Bank of Wedowee.
The all-cash deal is subject to regulatory and Swann Bancshares stockholder approvals. Additional terms were not disclosed in the merger release.
According to SNL data, valuations for bank and thrift target in the Southeast between May 25, 2016, and May 25,...