The merger of Southern States Bancshares Inc. into FB Financial Corporation has been completed, ending Southern States’ independent operations. Former shareholders received 0.800 shares of FB Financial common stock for each share, valuing the transaction at approximately $368.4 million. Key Southern States executives have been retained, ensuring continuity as the regional banking sector navigates challenges like net interest margins and aims for increased scale and efficiency through consolidation.
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Southern States Bancshares Completes Merger into FB Financial
The merger of Southern States Bancshares Inc. into FB Financial Corporation has been completed, ending Southern States’ independent operations. Former shareholders received 0.800 shares of FB Financial common stock for each share, valuing the transaction at approximately $368.4 million. Key Southern States executives have been retained, ensuring continuity as the regional banking sector navigates challenges like net interest margins and aims for increased scale and efficiency through consolidation.