Alston & Bird client BancorpSouth Bank has announced plans to acquire FNS Bancshares Inc., the parent company of FNB Bank, in a transaction valued at roughly $108.4 million.
The acquisition will mark BancorpSouth’s entrance into the Georgia market while expanding its presence in Alabama and Tennessee.
Founded in 1900 in Scottsboro, AL, FNS Bancshares has $786.5 million in total assets and operates 17 full-service banking offices in Alabama, Georgia, and Tennessee.
Based in Tupelo, MS, and listed on the New York Stock Exchange, BancorpSouth has approximately $24 billion in assets and operates 310 branches in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, and Texas, in addition to an insurance location in Illinois.
Advising BancorpSouth in the proposed acquisition is an Alston & Bird team led by partners Sandy Brown and Kyle Healy and senior associate John Gerl (Financial Services & Products); partner Mike Stevens (Employee Benefits & Executive Compensation); and partner Brett Coburn (Labor & Employment).