FB Financial to acquire Southern States Bancshares in all-stock merger

FB Financial Corp

Exchange ratio: 0.80 FB Financial shares per Southern States share; cash for fractional shares.
Southern States had $2.8B assets, $2.2B loans, $2.4B deposits as of Dec 31, 2024.
Deal adds 15 branches across Alabama and Georgia plus two loan production offices in Atlanta MSA.
Termination fee of $15M payable by either party under specified conditions.
Insider voting agreements cover ~5.4% of SSBK and ~1.83% of FBK shares in favor of deal.

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