M&A Deal Summary

Southern States Bancshares Acquires East Alabama Financial Group

On May 8, 2019, Southern States Bancshares acquired financial services company East Alabama Financial Group

Acquisition Highlights
  • This is Southern States Bancshares’ 1st transaction in the Financial Services sector.
  • This is Southern States Bancshares’ 1st transaction in the United States.
  • This is Southern States Bancshares’ 1st transaction in Alabama.

M&A Deal Summary
Date 2019-05-08
Target East Alabama Financial Group
Sector Financial Services
Buyer(s) Southern States Bancshares
Deal Type Add-on Acquisition

Target

East Alabama Financial Group

Wedowee, Alabama, United States
East Alabama Financial Group, Inc. is the parent of Small Town Bank is a $241 million asset community bank headquartered in Wedowee, AL engaged in personal and business banking. The Bank’s primary service areas in Alabama are Randolph and Cleburne counties and Carroll and Paulding counties in Georgia.

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Buyer(S) 1

Buyer

Southern States Bancshares

Anniston, Alabama, United States
Category Company
Sector Financial Services
DESCRIPTION

Southern States Bancshares, Inc. the subsidiary bank of Southern States Bancshares, is a full service, $927 million asset community bank headquartered in Anniston, AL, offering competitive banking products and services with a commitment to customer service and community knowledge. The Bank’s primary service areas in Alabama are Calhoun, Lee, Jefferson, Talladega and Madison counties and their surrounding areas plus Muscogee, Carroll and Coweta counties in Georgia. The Bank has LPO offices in Bremen, Georgia and Atlanta, Georgia.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Mergr

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