CBS-Banc Corp. of Russellville, AL and PrimeSouth Bancshares, Inc. of Pike Road, AL announced today the signing of a definitive agreement under which CBS and PrimeSouth will enter into a strategic merger to combine two well-respected banking franchises and create a $1.9 billion institution operating in three of Alabama’s four largest markets.
The deal consideration is 100% cash. Other financial terms were not disclosed.
Porter White Capital, LLC served as exclusive financial advisor to PrimeSouth Bancshares, Inc. and its subsidiary, PrimeSouth Bank. The merger is expected to close in the third quarter of 2019.
Porter White Capital, LLC has advised on 7 Alabama community bank mergers since 2016.
For more information on how we can assist your bank with its merger and acquisition needs, please email Michael Stone or call him at (205) 252-3681.
Securities offered through Porter White Capital, LLC, member of FINRA/SIPC and a wholly owned subsidiary of Porter White Companies, Inc.