BIRMINGHAM, Ala., April 11 /PRNewswire-FirstCall/ -- Alabama National BanCorporation ("ANB"), announced today the signing of a definitive agreement for the sale of its subsidiary, ANB Insurance Services, Inc., to S.S. Nesbitt & Co., Inc., a subsidiary of Birmingham-based EBSCO Industries, Inc. Terms were not disclosed.
The sale, which is subject to certain conditions of closing, is expected to close in the second quarter.
ANB is a bank holding company operating 102 banking locations through twelve bank subsidiaries in Alabama, Florida and Georgia. Alabama subsidiaries include: First American Bank in north central Alabama; Alabama Exchange Bank in Tuskegee; and Bank of Dadeville. Florida subsidiaries are: Indian River National Bank in Vero Beach; First Gulf Bank, N.A. in Escambia County, Florida and Baldwin County, Alabama; Florida Choice Bank in Central Florida; Community Bank of Naples, N.A.; Public Bank in metropolitan Orlando; CypressCoquina Bank in Ormond Beach; and Millennium Bank in Gainesville. ANB has two subsidiaries in Georgia: Georgia State Bank and The Peachtree Bank, both in metropolitan Atlanta. ANB provides full banking services to individuals and businesses. Commercial mortgage services, including the origination of permanent commercial real estate mortgage loans for various lenders, are provided by Byars and Company, a division of First American Bank. Brokerage services are provided to customers through First American Bank's wholly owned subsidiary, NBC Securities, Inc. Investments are not bank guaranteed, not FDIC insured and may lose value.
Alabama National BanCorporation common stock is traded on the NASDAQ Global Select Market under the symbol "ALAB."
