FB Financial and Southern States Bancshares have announced the receipt of all necessary regulatory approvals for their proposed merger.
The transaction is expected to be finalised on 1 July 2025, with system integration to follow in the third quarter of the year.
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In March, FB Financial agreed to merge operations of Southern States Bancshares, in a deal valued at $381m.
As of 31 March 2025, Southern States Bancshares reported assets of $2.9bn, loans of $2.3bn, and deposits of $2.4bn.
FB Financial, reported assets of $13.1bn, loans of $9.9bn, and deposits of $11.2bn.
FB Financial CEO and president Christopher T. Holmes said: “We’re pleased to have received swift regulatory approval for the merger between FB Financial and Southern States.”
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By GlobalData“Both institutions share a deep commitment to community banking, and we’re excited about bringing our teams together to continue delivering long-term value for our customers, associates, shareholders, and communities.”
FB Financial, headquartered in Nashville, Tennessee, operates through its banking subsidiary, FirstBank.
The bank has 77 full-service branches across Tennessee, Alabama, Kentucky, and North Georgia, in addition to mortgage offices throughout the Southeast.
Southern States Bancshares, based in Anniston, Alabama, operates primarily through Southern States Bank.
It operates 15 branches in Alabama and Georgia, along with two loan production offices in Atlanta.
