Form 4: Southern States Bancshares Director Reports Share Disposal Following Merger with FB Financial

Southern States Bancshares Director Jonathan Hinton reported the disposal of 2,099 shares of common stock as a result of the company's merger with FB Financial Corp., effective July 1, 2025.

Summary

• Jonathan Hinton, a Director of Southern States Bancshares, Inc. (SSBK), reported a change in beneficial ownership.
• The report details the disposal of 2,099 shares of SSBK common stock.
• This disposal occurred on July 1, 2025, in connection with the merger of SSBK 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, with cash paid for 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.

Sentiment

Score: 7

Explanation: The document reports a completed merger, which is generally a positive strategic event for the companies involved, leading to the expected disposal of shares by an insider. There are no negative surprises or risks disclosed within this specific filing.

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 FB Financial Corp., providing continued equity exposure in the combined entity.

Negatives

• Jonathan Hinton no longer directly owns shares of Southern States Bancshares, Inc. common stock following the merger.

Future Outlook

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

Industry Context

The merger of Southern States Bancshares, Inc. into FB Financial Corp. reflects a continuing trend of consolidation within the regional banking sector, driven by factors such as economies of scale, increased regulatory compliance costs, and the pursuit of expanded market share and operational efficiencies.

Comparison to Industry Standards

• This document reports a specific insider transaction resulting from a merger, rather than financial performance metrics that would typically be compared to industry standards or specific comparable companies. The conversion ratio of 0.8 shares of FBK for each SSBK share is a specific term of this particular merger agreement.

Stakeholder Impact

• Shareholders of SSBK: Received shares of FBK common stock in exchange for their SSBK shares, effectively becoming shareholders of the combined entity.
• Shareholders of FBK: Their company acquired SSBK, potentially expanding market reach and assets.

Key Dates

Keywords

Southern States Bancshares, SSBK, FB Financial Corp, FBK, Merger, Acquisition, Form 4, Insider Transaction, Beneficial Ownership, Director, Stock Conversion, Financial Services, Banking