secwatch.observer — SEC 8-K summary
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Issuer:     Southern States Bancshares, Inc. (—)
CIK:        0001689731
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001628280-24-007401
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024007401/0001628280-24-007401-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024007401/ssbk-20240227.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-007401

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