The Alabama State Banking regulator on April 24 approved Fayetteville, Tenn.-based BOLC Corp.'s proposed merger with Hazel Green, Ala.-based North Alabama Bancshares Inc., according to the state banking regulator's April report.

As part of the deal, BOLC would indirectly acquire North Alabama Bank.

The merger had previously obtained the Federal Reserve Bank of Atlanta's approval.

BOLC is the parent of Bank of Lincoln County.