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

Cynthia S. McCarty, a director of Southern States Bancshares, Inc., disposed of 7,709 shares of common stock on July 1, 2025, as a result of the company's merger with FB Financial Corp.

Summary

• Cynthia S. McCarty, a director of Southern States Bancshares, Inc. (SSBK), reported the disposition of SSBK common stock.
• The transaction occurred on July 1, 2025, in connection with the merger of Southern States Bancshares, Inc. with and into FB Financial Corp. (FBK).
• McCarty directly disposed of 5,709 shares of SSBK common stock.
• An additional 2,000 shares were indirectly disposed of by her spouse, Patrick M. McCarty, bringing the total disposed shares to 7,709.
• 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, 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, was $45.30 per share.

Sentiment

Score: 7

Explanation: The document reports the successful completion of a merger, which is generally a positive corporate event, leading to the expected disposition of shares. There are no negative surprises or risks mentioned.

Positives

• The successful completion of the merger between Southern States Bancshares, Inc. and FB Financial Corp. as planned.
• Shareholders of Southern States Bancshares, Inc. received 0.8 share of FB Financial Corp. common stock for each share held, providing liquidity and participation in the combined entity.

Future Outlook

No forward-looking statements or guidance are provided in this document.

Industry Context

The merger between Southern States Bancshares, Inc. and FB Financial Corp. reflects the ongoing trend of consolidation within the financial services and banking sector, driven by factors such as economies of scale, market expansion, and competitive pressures.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders of Southern States Bancshares, Inc. converted their investment into shares of FB Financial Corp., becoming shareholders of the combined entity.
• Shareholders of FB Financial Corp. experienced dilution from the issuance of new shares for the merger, but also gained the assets and operations of Southern States Bancshares, Inc.
• Management and directors of Southern States Bancshares, Inc., such as Cynthia S. McCarty, ceased their roles with the acquired entity upon merger completion.

Key Dates

Keywords

Southern States Bancshares, SSBK, FB Financial Corp, FBK, Merger, Acquisition, Form 4, Insider Trading, Stock Disposition, Financial Services, Banking