---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-007401"
form_type: "8-K"
ticker: null
cik: "0001689731"
company_name: "Southern States Bancshares, Inc."
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T09:04:22.868144+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southern States Bancshares to acquire CBB Bancorp for ~$27M in stock/cash

## Summary
- Aggregate transaction value ~$27M based on SSBK price $24.24; implied value $38.38 per CBB share.
- CBB holders may elect 1.550 SSBK shares or $45.63 cash per share; cash capped at 10% of shares.
- Combined bank: ~$2.8B assets, $2.3B deposits, $2.0B loans; 15 branches in AL and GA.
- Expected close Q3 2024, subject to regulatory and CBB shareholder approval.

## SEC filing metadata
- accession: 0001628280-24-007401
- form_type: 8-K
- cik: 0001689731
- company_name: Southern States Bancshares, Inc.
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1689731/000162828024007401/0001628280-24-007401-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1689731/000162828024007401/ssbk-20240227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-007401
- JSON: https://secwatch.observer/filing/0001628280-24-007401.json
- Plain text: https://secwatch.observer/filing/0001628280-24-007401.txt

## Key facts
- Material Agreements
  Southern States Bancshares, Inc. entered into Agreement and Plan of Merger with CBB Bancorp (effective 2024-02-27).
  - Action: entry
  - Agreement: merger
  - Counterparty: CBB Bancorp
  - Effective: 2024-02-27
  source text: On February 27, 2024, Southern States Bancshares, Inc. (“Southern States Bancshares”), the parent company of Southern States Bank (“Southern States Bank”), and CBB Bancorp (“CBB Bancorp”), the parent company of Century Bank of Georgia (“Century Bank”), entered into an Agreement and Plan of Merger (the “Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1689731/000162828024007401/0001628280-24-007401-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.