FB Financial Corporation announced today the completion of its merger with Southern States Bancshares, Inc. As a result of the merger, shares of Southern States ceased trading after the market closed on June 30, 2025.
Pursuant to the merger agreement, Southern States' shareholders received 0.800 shares of FB Financial common stock for each share of Southern States stock held. Based on FB Financial's closing stock price of $45.30 per share as of June 30, 2025, the implied transaction value was approximately $36.24 per Southern States share, totaling $368.4 million.
In connection with the merger, J. Henry Smith IV, who previously served on the board of directors of Southern States, has been appointed to FB Financial's board of directors, effective immediately. This integration marks the culmination of the strategic combination of the two banking entities.
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