Southern States Bancshares Completes Merger into FB Financial

The integration of Southern States Bancshares Inc. into FB Financial Corporation is now complete, marking the end of the former's independent operations. The merger, which was finalized last summer, means shares are no longer traded independently under the ticker symbol SSBK. For former shareholders, this move represents a transition into a significantly larger regional banking network.

FB Financial Corporation finalized its acquisition of Southern States Bancshares on June 30 of last year. Under the terms of the agreement, Southern States shareholders received 0.800 shares of FB Financial common stock for each share they held. At the time of the merger's closing, this exchange ratio translated to a value of approximately $36.24 per share, valuing the entire transaction at roughly $368.4 million.

Southern States brought a substantial operational foundation to the combined entity, including:
* Total Assets: $2.8 billion (as of year-end 2024)
* Loan Portfolio: $2.2 billion
* Total Deposits: $2.4 billion

Should investors sell immediately? Or is it worth buying Southernes Bancshares?

Leadership and Operational Continuity

To ensure a smooth transition, key members of Southern States' executive team have taken on leadership roles within the enlarged organization. Former CEO Mark A. Chambers and former CFO Lynn J. Joyce have both been retained in senior positions. This retention of management expertise is expected to benefit the continued operation of the 15 branches across Alabama and Georgia, as well as the loan production office in Atlanta.

Sector Outlook and Strategic Rationale

The regional banking sector is entering 2026 on stable footing, having strengthened balance sheets considerably over the preceding two years. However, the industry continues to face challenges related to net interest margins, which are being pressured by the potential for lower interest rates and a slower pace of economic growth. A positive factor for the sector remains the expectation that deposit costs will continue to decline.

Overall, the outlook for global banks in the current year is steady, with rating agencies forecasting high stability in their assessments. The absorption of Southern States into FB Financial is part of a broader wave of consolidation within the industry, as institutions seek to achieve greater scale and efficiency to navigate evolving market conditions. Looking ahead, the critical test for the merged entity will be its ability to fully realize projected synergies, particularly within an environment of potentially shrinking net interest income.