secwatch.observer — SEC 8-K summary
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Issuer:     Southern States Bancshares, Inc. (—)
CIK:        0001689731
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001628280-24-033910
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/0001628280-24-033910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024033910/ssbk-20240731.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-033910

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer