Jones Walker served as legal counsel to FBDC Financial Corporation (FBDC), the parent company of First Fidelity Bank, in its sale to FirstBanc of Alabama, Inc. (FBAI), which closed on March 20, 2026. FBDC was acquired for $20.5 million, with 60% of the purchase price paid in FBAI common stock and 40% paid in cash.

The transaction required prior federal and state regulatory approvals, as well as approval from FBDC's shareholders at a Special Meeting of Shareholders. Jones Walker also assisted with the negotiation and completion of a sale/leaseback transaction with a third party for First Fidelity's branches immediately before the merger. The sale/leaseback of the branches allowed FBDC to declare and pay a special cash dividend to its shareholders prior to completion of the mergers.

The Jones Walker team was led by Ed Crosland and Rob Carothers, partners in the Corporate Practice Group, and members of the Banking & Financial Services Industry Team and mergers & acquisitions teams, and with contributions from Trevor Wilson, a partner and member of the transactional tax team. Read more in the press release.