First Bancshares in Mississippi to Buy Alabama Bank

American Banker
Friday, March 7, 2014

First Bancshares based in Hattiesburg, Miss., has agreed to buy BCB Holding in Mobile, Ala. First Bancshares will pay about $6.6 million for BCB, assuming BCB's debt and preferred stock issued to the Treasury Department. BCB, the parent of Bay Bank, has four branches and about $80 million in assets. "We are extremely excited and look forward to welcoming Bay Bank to our team," Hoppy Cole, First Bancshares' president and chief executive, said. "We believe it is a great combination of two service oriented community banks and by joining forces, we will improve our market presence in the Mobile area."