New York-based Ladder Capital Finance Holdings LLC has agreed to acquire North Palm Beach, FL-based FirstCity Bank of Commerce.  The transaction is expected to be completed by the end of the year.  Terms of the transaction were not released.

FirstCity Bank of Commerce, established in 2007, is a commercial bank operating a single branch in Palm Beach County, Florida.  As of March 31, 2009, the Bank has $35.4 million in assets, $17.0 million in total loans, $26.6 million in deposits and $8.8 million in stockholders' equity.

The Carson Medlin Company is serving as financial advisor to FirstCity Bank of Commerce in this transaction with Paula S. Johannsen acting as lead banker.