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Southern States Bancshares (SSBK) just unveiled an update.
Southern States Bancshares, Inc., the parent company of Southern States Bank, announced a merger agreement with CBB Bancorp, parent of Century Bank of Georgia. This merger will result in Southern States Bancshares being the surviving corporation, with shareholders of CBB Bancorp given the choice to receive either Southern States Bancshares common stock or cash for their shares. The deal includes common representations, warranties, and covenants, and is subject to conditions such as regulatory approvals and shareholder consent. Additionally, Richard E. Drews, Jr. is set to join the board of directors of Southern States Bancshares post-merger.
Learn more about SSBK stock on TipRanks’ Stock Analysis page.
