Southern States Bancshares Finalizes Acquisition and Board Expansion

Southern States Bancshares (SSBK) has provided an announcement.

Southern States Bancshares, Inc. successfully completed its acquisition of CBB Bancorp, finalizing both a corporate merger and a subsequent bank merger, making Southern States Bank the surviving entity. CBB Bancorp shareholders now have the choice to receive shares of Southern States Bancshares or a cash payment for their stock, with certain cash elections subject to proration. Additionally, Richard E. Drews, Jr., with extensive banking and civic experience, has been appointed to the Board of Directors and various committees of Southern States Bancshares, with compensation including stock, options, salary, and a car allowance. The completion of this strategic acquisition was publicized via a joint press release.

For a thorough assessment of SSBK stock, go to TipRanks’ Stock Analysis page.