Southern States Bancshares jumps on $381 million buyout deal with FB Financial

Southern States Bancshares

31/03/2025 14:57

** Community bank Southern States Bancshares' SSBK.O shares jump 7.9% to $35.07 in early trading

** Regional lender FB Financial FBK.N shares down ~4% at $45.22

** FBK will buy Anniston, Alabama-based SSBK in a $381 million all-stock deal, the companies announce

**  SSBK shareholders will receive 0.80 shares of FBK for each shares held, valuing the bank at $37.64 per share, which represents a 15.9% premium to last close

** Deal, expected to close in second half of 2025, will boost FBK's presence in Alabama and Georgia

** Keefe, Bruyette, & Woods advised FBK, while Performance Trust Capital Partners advised SSBK

** SSBK stock up 4.9% YTD, while FBK down 12%

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))