FB Financial Corp (FBK): M&A transaction — FB Financial closes $368M stock-for-stock merger with Southern States Bancshares

FB Financial Corp

Implied transaction value of ~$36.24 per share, ~$368.4M total, based on FBK's $45.30 close on June 30.
Southern States shareholders received 0.800 shares of FB Financial common stock per share; SSBK ceased trading after June 30.
FB Financial assumed $92.7M in subordinated notes: $48M 3.50% notes due 2032, $40M 7.00% notes due 2032, $4.7M 3.50% notes due 2031.
Board increased to 13 directors; appointed J. Henry Smith IV, former Southern States director, effective immediately.
Combined company has ~$16B total assets, operates 93 full-service branches across TN, AL, KY, GA.

item 2.01 item 2.03 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

FB Financial Corp incurred debt of aggregate principal amount of $92,700,000 at 3.50% Fixed-to-Floating Rate, 7.00% Fixed-to-Floating Rate maturing 2032, 2031.

Principal: aggregate principal amount of $92,700,000
Rate: 3.50% Fixed-to-Floating Rate, 7.00% Fixed-to-Floating Rate
Maturity: 2032, 2031
Event: incurrence

Exact text from the filing

FB Financial assumed subordinated notes in aggregate principal amount of $92,700,000.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FB Financial Corp completed an acquisition involving Southern States Bancshares, Inc. for 0.800 shares of common stock, par value $1.00 per share, of FB Financial (closed 2025-07-01).

Action: acquisition
Counterparty: Southern States Bancshares, Inc.
Consideration: 0.800 shares of common stock, par value $1.00 per share, of FB Financial
Closing: 2025-07-01

Exact text from the filing

On July 1, 2025, FB Financial completed its previously announced merger with Southern States.

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FB Financial Corp filing history →

Source: SEC EDGAR

accession 0001104659-25-066404

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