The facts are sourced from an S-4 registration statement filed with the SEC via EDGAR, published on May 2, 2024, consistent with the stock-for-stock structure of this transaction, since an S-4 is used to register the shares issued as merger consideration. The deal's current status is pending regulatory review.
Only one financial advisor is identified in the facts block: Performance Trust Capital Partners, LLC, which served as the lead financial advisor to CBB Bancorp, the target, and rendered a fairness opinion. The source sentence is drawn from a consent letter: "We hereby consent to the inclusion of our opinion letter, dated February 27, 2024, to the Board of Directors of CBB Bancorp as Annex C to, and to the reference thereto under the captions 'Summary, Opinion of CBB's Financial Advisor,' 'The Merger, Opinion of CBB's Financial Advisor' in, the proxy statement/prospectus relating to the proposed merger of CBB Bancorp and Southern States Bancshares, Inc." This confirms Performance Trust Capital Partners' fairness opinion was dated February 27, 2024. No financial advisor to Southern States Bancshares, the acquirer, is identified in the facts provided.
No legal advisors were extracted for this transaction in the available facts block.
Beyond the classification of this transaction as a stock-for-stock bank merger, no further detail on the exchange ratio or other specific consideration terms is included in the facts provided.
Several items are not disclosed in this record: the transaction value is not stated, no financial advisor to the acquirer is identified, no legal advisors to either side are identified, the exchange ratio is not specified, and no expected closing date is given beyond the pending-regulatory status.