Southern States Bancshares to Enhance Georgia Franchise With Acquisition of CBB Bancorp
ANNISTON, Ala. and CARTERSVILLE, Ga., Feb. 28, 2024 (GLOBE NEWSWIRE) — Southern States Bancshares, Inc. (NASDAQ:SSBK) (“Southern States”), the holding company for Southern States Bank, and CBB Bancorp (“CBB Bancorp”), the holding company for Century Bank of Georgia (“Century Bank”), announced today the signing of a definitive merger agreement under which Southern States would acquire CBB Bancorp. Upon completion, Southern States expects to merge CBB Bancorp with and into Southern States, with Southern States as the surviving entity. Century Bank of Georgia would similarly be merged with and into Southern States Bank with Southern States Bank surviving. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval.