Affinity Bancshares to be acquired by Fidelity BancShares for $23.00 per share in cash

Affinity Bancshares, Inc.

Merger consideration: $23.00 per share in cash; adjusted for equity change post-Feb 28, 2026.
Expected close Q3 2026, subject to regulatory and stockholder approvals.
Termination fee: $5.5 million payable by Affinity under certain circumstances.
CEO Cooney to receive $1.65M; EVP Nelson $1.20M; EVP Galazka $0.71M in settlement agreements upon merger close.
Executives subject to 24-month non-solicit; Cooney and Galazka also non-compete for 24 months.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Affinity Bancshares, Inc. entered into Agreement and Plan of Merger with Fidelity BancShares (N.C.), Inc., The Fidelity Bank and TFB Merger Subsidiary, Inc. valued at $23.00 in cash per share (effective 2026-03-30).

Action: entry
Agreement: merger
Counterparty: Fidelity BancShares (N.C.), Inc., The Fidelity Bank and TFB Merger Subsidiary, Inc.
Value: $23.00 in cash per share
Effective: 2026-03-30

Exact text from the filing

On March 30, 2026, Affinity Bancshares, Inc. (the “Company”) and Affinity Bank, National Association (“Affinity Bank” and, together with the Company, “Affinity”), Fidelity BancShares (N.C.), Inc. (“Fidelity BancShares”), The Fidelity Bank (“Fidelity Bank”) and TFB Merger Subsidiary, Inc., a North Carolina corporation that will be formed as a wholly owned subsidiary of Fidelity Bank to facilitate the merger (“Merger Sub,” and together with Fidelity BancShares and Fidelity Bank, “Fidelity”), entered into an Agreement and Plan of Merger (the “Agreement”).

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Affinity Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-134773

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