Birmingham-headquartered Legacy Credit Union announced today it is acquiring First Community Bank of Cullman.

The transaction has already received unanimous approval from the Board of Directors of each institution.

“Legacy has been committed to crafting financial solutions for the communities we serve for over seventy years.

Our culture emphasizes excellence, education, energy, and empowerment, and we look forward to bringing our approach to financial service to the people of Cullman County.

We know that First Community has built a very similar tradition over the last century, so we are excited to work with them as we expand into this new market.”
Glenn Bryan, President and CEO, Legacy Credit Union

Legacy and First Community Bank: Decision will benefit customers and community

Chartered in 1955 as University Credit Union, Legacy currently operates 9 full-service branches and plans to open two additional locations this year. Legacy Credit Union serves more than 39,000 members in the Central Alabama area.

First Community Bank of Cullman (FCB) was founded in 1905 and operates from its main office in Cullman, Alabama. It is a wholly-owned subsidiary of Southern Community Bancshares, Inc.

“We were determined to find a group that held the same philosophy of business that we do, and after an extensive search, we found that in Legacy.

We are confident that this decision will benefit our customers and our community for years into the future.”
Billy Faulk, President and CEO, First Community Bank

The acquisition will be an all-cash transaction, the amount of which has not been disclosed. The transaction is subject to regulatory approvals and is expected to be completed later this year.

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