TALLADEGA, Ala. – FirstBanc of Alabama Inc., the parent company of First Bank of Alabama, announced on Wednesday, Dec. 10, that it has signed a definitive agreement to merge Fort Payne–based FBDC Financial Corp., parent company of First Fidelity Bank, into its organization in a deal valued at $20.5 million.
Under the agreement, FBDC shareholders will receive $52.56 per share, with 60 percent paid in FirstBanc common stock and 40 percent in cash. Once completed, legacy FirstBanc shareholders will own about 90 percent of the combined company, while FBDC shareholders will hold roughly 10 percent. One FBDC director will join the boards of FirstBanc and First Bank of Alabama.
The merger will expand First Bank of Alabama’s reach into DeKalb County, adding First Fidelity Bank branches in Fort Payne, Ider, Rainsville, and Mentone.
First Bank of Alabama already operates across East Central Alabama, serving communities in Talladega, Clay, Randolph, Calhoun, Cleburne, Tallapoosa, Chilton, and other counties through offices in Talladega, Wedowee, Sylacauga, Oxford, Ranburne, Lincoln, Roanoke, Munford, Heflin, Clanton, Woodland, Ashland, Anniston, Childersburg, and Jacksonville.
With the addition of First Fidelity Bank’s footprint, the combined institution will hold approximately $1.3 billion in assets and operate 18 full-service branches statewide.
“We could not be more excited to partner with First Fidelity Bank,” said Chad Jones, President and CEO of First Bank of Alabama. “This combination furthers our goal of being a strong, vibrant community bank in the state of Alabama.”
Steve Eberhart, President and CEO of First Fidelity Bank, said the partnership builds on the bank’s six-decade commitment to northeast Alabama. “We believe this transaction will be beneficial to our shareholders, employees, and customers,” Eberhart said.
The deal, unanimously approved by both boards, is expected to close by the second quarter of 2026, pending shareholder and regulatory approval.
