Talladega, AL-based FirstBanc of Alabama, the parent company of First Bank of Alabama, announced it had acquired FBDC Financial Corporation, the parent company of First Fidelity Bank.
The two banks previously announced an agreement to merge on Dec. 10, 2025. Under the terms of the agreement, FirstBanc paid $20.5 million in the aggregate, or $52.56 per FBDC share, with 60 percent of the purchase prices paid in FirstBanc common stock and 40 percent in cash. FBDC’s president and CEO Steve Eberhart has joined the FirstBanc board and will be a consultant to First Bank of Alabama.
“We could not be more excited to partner with First Fidelity Bank,” Chad Jones, president and CEO of First Bank of Alabama, said. “We are especially gratified by the overwhelming engagement from their shareholders, with 97.92% voting on the transaction. This combination furthers our goal of being a strong, vibrant community bank in the state of Alabama and expands our footprint in east Alabama. We look forward to serving First Fidelity’s markets in northeast Alabama and to welcoming its shareholders, employees and customers into the First Bank of Alabama family.”
The addition of First Fidelity Bank’s locations in Fort Payne, Ider and Rainsville, AL brings First Bank of Alabama’s assets up to $1.3 billion with 18 full-service locations across the state. First Bank of Alabama is the oldest continuously operating bank in the state and has other offices in Talladega, Wedowee, Sylacauga, Oxford, Ranburne, Lincoln, Roanoke, Munford, Heflin, Clanton, Woodland, Ashland, Anniston, Childersburg and Jacksonville, Ala.