---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-033910"
form_type: "8-K"
ticker: null
cik: "0001689731"
company_name: "Southern States Bancshares, Inc."
filed_at: "2024-08-01T23:59:59+00:00"
generated_at: "2026-05-31T13:52:01.504336+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Southern States Bancshares closes acquisition of CBB Bancorp, adds Georgia branches

## Summary
- Acquisition of CBB Bancorp (Century Bank of Georgia) closed effective July 31, 2024.
- Each CBB share exchanged for 1.550 SSBK shares or $45.63 cash; max 10% cash subject to proration.
- Richard E. Drews Jr., former CBB CEO, appointed to SSBK board and committees; base salary $264,259.
- Southern States now operates 15 full-service branches and 2 loan production offices across AL and GA.
- Deal strengthens presence in high-growth Atlanta metro market.

## SEC filing metadata
- accession: 0001628280-24-033910
- form_type: 8-K
- cik: 0001689731
- company_name: Southern States Bancshares, Inc.
- filed_at: 2024-08-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/0001628280-24-033910-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/ssbk-20240731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-033910
- JSON: https://secwatch.observer/filing/0001628280-24-033910.json
- Plain text: https://secwatch.observer/filing/0001628280-24-033910.txt

## Key facts
- Executive change
  Richard E. Drews, Jr. was appointed as Board of Directors at Southern States Bancshares, Inc..
  - Action: appointed
  - Role: Board of Directors
  source text: Richard E. Drews, Jr. was appointed to the Board of Directors of the Company and the Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/0001628280-24-033910-index.htm
- M&A Transactions
  Southern States Bancshares, Inc. completed an acquisition involving CBB Bancorp for 1.550 shares of Southern States Bancshares common stock or $45.63 in cash (closed 2024-07-31).
  - Action: acquisition
  - Counterparty: CBB Bancorp
  - Consideration: 1.550 shares of Southern States Bancshares common stock or $45.63 in cash
  - Closing: 2024-07-31
  source text: special meeting held on July 9, 2024. Under the terms and subject to the conditions of the Merger Agreement, the holders of CBB Bancorp have the right to elect to receive either 1.550 shares of Southern States Bancshares common stock or $45.63 in cash for each share of CBB Bancorp common stock they hold. Shareholder elections for cash are subject to proration
  evidence_url: https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/0001628280-24-033910-index.htm

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