SouthPoint Bancshares Acquires Merchants Financial Services
January 6, 2022
SouthPoint Bancshares, Inc. completed a strategic merger with Merchants Financial Services, Inc., with SouthPoint as the surviving entity. Merchants Bank of Alabama was merged into SouthPoint Bank as a division, creating a combined organization with over $1.0 billion in assets, approximately $0.9 billion in deposits and 10 branches, extending SouthPoint’s franchise along the I‑65 corridor into Cullman, Hanceville and Arab, Alabama.
- Buyers
- SouthPoint Bancshares, Inc.
- Targets
- Merchants Financial Services, Inc., Merchants Bank of Alabama
- Industry
- Financial Services
- Location
- Alabama, United States
- Transaction Type
- Buyout
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