TALLADEGA, Ala. – FirstBanc of Alabama, the parent company of First Bank of Alabama, has completed its acquisition of FBDC Financial Corporation, expanding its presence across east and northeast Alabama.
The deal, first announced on Dec. 10, 2025, was valued at $20.5 million, or $52.56 per share. Under the agreement, 60 percent of the purchase price was paid in FirstBanc common stock, with the remaining 40 percent paid in cash. As part of the transaction, FBDC President and CEO Steve Eberhart has joined the FirstBanc board and will serve as a consultant to First Bank of Alabama.
“We could not be more excited to partner with First Fidelity Bank,” said Chad Jones, President and CEO of First Bank of Alabama, citing strong shareholder support for the merger.
The acquisition adds First Fidelity Bank locations in Fort Payne, Ider and Rainsville, bringing First Bank of Alabama’s total assets to $1.3 billion and expanding its network to 18 full-service offices statewide.
Founded in 1848, First Bank of Alabama is the state’s oldest continuously operating bank.
