...and vice-versa. Alabama Governor Bob Riley signed the law May 31.
According to a story in the Montgomery Advertiser, Tennessee is the only state contiguous to Alabama with a reciprocal law. Reciprocal legislation failed in Mississippi. Georgia and Florida appear unlikely to pass reciprocal laws, so Tennessee is likely target for expansion of Alabama banks. ServisFirst Bank of Birmingham has a branch in Huntsville, Alabama, so expansion into Fayetteville or Winchester, Tennessee seems natural. Alabama's North Jackson Bank has apparently opened a branch in Tennessee, but the story does not say where. The same story reports that a Tennessee bank (not identified) opened a branch in Huntsville.
Details in the Montgomery Advertiser, by Cosby Woodruff.
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