Form 4: Southern States Bancshares Director Disposes of Shares Following Merger with FB Financial

Alfred J. Hayes Jr., a director of Southern States Bancshares, Inc., has reported the disposal of 6,796 shares of common stock effective July 1, 2025, in connection with the company's merger into FB Financial Corp.

Summary

• Alfred J. Hayes Jr., a Director of Southern States Bancshares, Inc. (SSBK), disposed of 6,796 shares of SSBK common stock.
• The disposal occurred on July 1, 2025, and was in connection with the merger of SSBK with and into FB Financial Corp. (FBK).
• At the effective time of the merger, each outstanding share of SSBK common stock converted into the right to receive 0.8 share of FBK common stock.
• Cash was payable in lieu of fractional shares resulting from the conversion.
• On June 30, 2025, the last trading day before the merger's effective time, FBK's stock closed at $45.30 per share.

Sentiment

Score: 5

Explanation: The filing is a standard Form 4 reporting a director's share disposal due to a merger, which is a factual and expected event following a merger announcement. It does not inherently convey positive or negative sentiment about the company's ongoing operations beyond the merger's completion.

Positives

• The completion of the merger between Southern States Bancshares, Inc. and FB Financial Corp. indicates a successful strategic transaction.
• SSBK shareholders received shares of FBK, a larger entity, potentially offering greater liquidity and diversification.
• The transaction provides a clear valuation for SSBK shares based on the 0.8 share of FBK common stock per SSBK share, valued at $45.30 per FBK share on June 30, 2025.

Negatives

• The reporting person, Alfred J. Hayes Jr., no longer beneficially owns shares of Southern States Bancshares, Inc. following the transaction.

Future Outlook

The document reports a completed transaction related to a merger, and as such, does not provide forward-looking statements or guidance for the combined entity.

Industry Context

This transaction reflects a consolidation event within the banking sector, where Southern States Bancshares, Inc. has been acquired by FB Financial Corp. Such mergers are common strategies for financial institutions seeking to expand market share, achieve economies of scale, or enhance service offerings.

Stakeholder Impact

• Shareholders of Southern States Bancshares, Inc. had their shares converted into FB Financial Corp. common stock, impacting their ownership structure and future investment vehicle.

Key Dates

Keywords

SEC Form 4, Insider transaction, Merger, Southern States Bancshares, SSBK, FB Financial Corp, FBK, Director, Share disposal, Corporate action, Stock exchange