FB Financial acquires FNB Financial
FB Financial, parent company of FirstBank, announced that it has entered into a definitive merger agreement to acquire FNB Financial and its wholly owned subsidiary, Farmers National Bank of Scottsville, pursuant to which Farmers National will be merged with and into FirstBank. Farmers National Kentucky, provides FirstBank an entry into the attractive Bowling Green MSA, where Farmers National is currently ranked 7th in deposit market share with approximately $204M in deposits, based on FDIC data as of June 30. Following close of the transaction, Dan Harbison, President and CEO of Farmers National, will serve as Market President for FirstBank and will be responsible for managing the combined banks' presence in South Central Kentucky. The consideration is valued at approximately $51.9M based on 954,827 shares of FBK common stock and $15.0M in cash consideration.