FirstBanc of Alabama, Inc. of Talladega, AL, parent company of First Bank of Alabama Completes Acquisition SouthFirst Bank

Bank Deepens Presence and Commitment to the Community

April 19, 2021 11:09 AM EDT

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TALLADEGA, Ala., April 19, 2021 /PRNewswire/ -- FirstBanc of Alabama, Inc., parent company of First Bank of Alabama, announced today that it has completed the acquisition of SouthFirst Bank.

With the transaction finalized, the combined First Bank of Alabama team continues to work diligently to successfully integrate the former SouthFirst Bank with the systems conversion planned for July 2021. Chad Jones, President and CEO of First Bank of Alabama, commented, "We are excited to partner with the SouthFirst team. This combination will expand our presence in Talladega County, and in particular give us a physical location in the southern end of the county, while also allowing us to enter the Clanton and Chilton County market. We are excited to add the SouthFirst associates to our bank family. SouthFirst customers will be positively impacted with exceptional service and a diverse array of product offerings."

First Bank of Alabama was advised in the transaction by Olsen Palmer, LLC as financial adviser and Jones Walker, LLP as legal counsel.

About the CompanyFirst Bank of Alabama, based in Talladega, AL, is the banking subsidiary of FirstBanc of Alabama, Inc. and a full-service community bank with combined assets totaling approximately $815 million. Formed in 1848, First Bank of Alabama is the oldest continuously operated bank in the state of Alabama and operates offices in Talladega, Lincoln, Munford, Oxford, Ashland, Wedowee, Roanoke Woodland, and now Sylacauga and Clanton, AL. For more information, please visit www.firstbankal.com.

For additional information or questions, please contact:

J. Chad Jones President and CEO 120 North Street, ETalladega, Alabama 35161256-362-2334cjones@firstbankal.com 

Cision View original content:http://www.prnewswire.com/news-releases/firstbanc-of-alabama-inc-of-talladega-al-parent-company-of-first-bank-of-alabama-completes-acquisition-southfirst-bank-301271657.html

SOURCE FirstBanc of Alabama



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