|
|
Article: SouthFirst signs definitive merger agreement with First Federal Savings and Loan of Chilton County.
- Article from:
- Business Wire
- Article date:
- April 15, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SYLACAUGA, Ala.--(BUSINESS WIRE)--April 15, 1997--SouthFirst Bancshares, Inc. (ASE: SZB) and First Federal Savings and Loan Association of Chilton County today announced a definitive agreement to merge, creating a company with combined assets in excess of $160 million.
As a result of the agreement, Chilton County will be merged with First Federal of the South, a wholly-owned subsidiary of SouthFirst based in Sylacauga, Alabama, with operations in Talladega and Birmingham. First Federal of the South will be the surviving bank in the merger.
The transaction is structured as a stock election merger, in which holders of Chilton County stock will have ...