Form 4: Southern States Bancshares CEO Completes Share Disposition Following Merger with FB Financial

Mark Chambers, CEO of Southern States Bancshares, Inc., has reported the disposition of all his common stock holdings and exercised stock options in connection with the company's merger with FB Financial Corp. effective July 1, 2025.

Summary

• Mark Chambers, Chief Executive Officer and Director of Southern States Bancshares, Inc. (SSBK), reported transactions on July 1, 2025, related to the company's merger with FB Financial Corp. (FBK).
• Chambers exercised stock options to acquire 891 shares at an exercise price of $30.23, 2,695 shares at $26.42, and 3,381 shares at $33.14.
• Following these acquisitions, all 116,652 shares of SSBK common stock beneficially owned by Chambers were disposed of.
• The disposition occurred as part of the merger where each outstanding share of SSBK's common stock, restricted stock, and restricted stock unit converted into the right to receive 0.8 share of FBK common stock, with cash payable in lieu of fractional shares.
• The closing price of FBK's stock on June 30, 2025, the last trading day before the merger's effective time, was $45.30 per share.
• The reported transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The document reports the expected completion of a merger, which is generally a positive strategic event for the acquired company's shareholders, as it provides liquidity and a defined exit. The insider transaction itself is a routine disclosure following such an event, indicating successful execution rather than new positive or negative news.

Positives

• The completion of the merger with FB Financial Corp. signifies the successful execution of a strategic transaction for Southern States Bancshares, Inc.
• The disposition of shares by the CEO is a standard and expected procedure following a merger, indicating the finalization of the transaction.

Negatives

• No specific negatives are indicated in this Form 4 filing, as it primarily reports a transaction resulting from a merger.

Future Outlook

The document confirms the completion of the merger between Southern States Bancshares, Inc. and FB Financial Corp. effective July 1, 2025, indicating the finalization of this strategic event.

Industry Context

This transaction reflects the ongoing consolidation trend within the banking and financial services sector, where smaller regional banks are often acquired by larger institutions to expand market reach, achieve economies of scale, and enhance competitive positioning. The merger of Southern States Bancshares into FB Financial Corp. is consistent with this trend.

Stakeholder Impact

• Shareholders (SSBK): Will receive 0.8 shares of FBK common stock for each SSBK share, providing liquidity and continued equity participation in the combined entity.
• Shareholders (FBK): Will see an increase in outstanding shares due to the merger.

Next Steps

• Southern States Bancshares, Inc. common stock will cease to trade as it has merged into FB Financial Corp.
• Former SSBK shareholders will receive FBK common stock based on the conversion ratio.

Key Dates

Recommendation

Keywords

Southern States Bancshares, SSBK, FB Financial Corp, FBK, Merger, Acquisition, Form 4, Insider Trading, Stock Options, Common Stock, Mark Chambers, CEO, Director, Rule 10b5-1