The combined institution will serve almost 75,000 members with nearly $660 million in assets.
The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama.
USAL Bancorp will have nearly $300 million in assets after it buys Escambia County Bank.
The Arkansas bank is selling its two branches in the state to Merchants & Marine Bancorp and FEB Bancshares.
Investar Holding said it no longer plans to buy Cheaha Financial in Alabama.
Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.
The Mississippi company will pay $49 million for Traders & Farmers Bancshares.
The Louisiana company sold $30 million in stock to help fund its purchase of Cheaha Financial Group.
The company will gain 34 branches and $1.2 billion in assets when it buys State Capital in Mississippi.
Diverse economies and a limited number of sellers are making markets like Tampa, Fla., a hot spot for growth-minded banks.