Regional lender Renasant Corp (RNST.N), opens new tab has agreed to buy smaller rival The First Bancshares (FBMS.N), opens new tab in an all-stock deal valued at $1.2 billion, the Mississippi-based banks said on Monday.
The deal will create a combined six-state Southeastern regional lender with about $25 billion in total assets and underscores the growing consolidation in the U.S. regional banking industry.
Last week, regional bank WesBanco (WSBC.O), opens new tab struck a $959 million all-stock deal to buy community bank Premier Financial (PFC.O), opens new tab.
Source: REUTER
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