Oakworth Capital Bank to merge with Montgomery based AlaTrust Inc.

June 3, 2015, by John Norris

ocbatOakworth Capital Inc., the parent company of Birmingham’s Oakworth Capital Bank, has signed an agreement to acquire Montgomery’s AlaTrust Inc. AlaTrust, an independent, state-chartered trust company that provides a rangate of wealth management services, will become part of Oakworth Capital Bank and operate under its existing management team. Financial terms of the deal were not disclosed. The deal is expected to close in the third quarter. The deal must be approved by AlaTrust shareholders and regulators. The combined organization will have approximately $750 million in wealth/trust assets and $330 million in total bank assets…Read More…