Reviewed by: Pat Byington
Merchants & Farmers Bank enters new deal to sell Prattville branch to local competitor
Reading time: 2 minutes
A new agreement is reshaping River Region banking options. Merchants & Farmers Bank of Greene County is poised to sell its Prattville branch to competitor First Community Bank of Central Alabama.
The transaction was announced last week by Olsen Palmer LLC, which served as financial advisor to Merchants & Farmers Bancshares, Inc.
Under the terms of the agreement, First Community Bank will acquire the physical location and the deposit and loan accounts associated with the Prattville branch at 1805 E Main Street. Merchants & Farmers acquired this branch back in 2014.
What is next for these neighboring Prattville bank branches?
Headquartered in Wetumpka, First Community Bank was established in 2001 and already has a major presence in the region. It presently operates 9 locations across Autauga and Elmore counties, including an existing Prattville office at 1761 E. Main Street.
Interestingly, this existing branch is roughly 500 feet away from the targeted Merchants & Farmers building.
While First Community Bank hasn’t detailed its exact plans for both buildings, the company will likely consolidate operations into one primary office under the proposed acquisition rather than run two full-service branches practically side-by-side.
River Region banking changes + transaction details
The transition represents a significant reallocation of capital. The deposits and loans to be conveyed by Merchants & Farmers to First Community Bank are approximately $14 million and $8 million, respectively, according to the transaction announcement.
With Merchants & Farmers set to exit the Prattville market, the bank is refocusing on its primary footprint. It will continue to operate through its Eutaw headquarters and new Demopolis location in west Alabama.
The proposed transaction is subject to customary closing conditions as well as approval by applicable regulatory authorities. It is expected to be completed in the fourth quarter of 2026.
If you are a current customer of either bank, how do you feel about this pending transition? Tell us what you think on Facebook.
