First Bank of Alabama (“FBA”), subsidiary of Firstbanc of Alabama, Inc. and Southern States Bank (“Southern States”), subsidiary of Southern States Bancshares, Inc. (NASDAQGS: SSBK) announced that FBA has acquired the physical locations and most of the loan and deposit accounts associated with 2 of Southern States’ branches.
Olsen Palmer LLC served as financial advisor to Firstbanc of Alabama Inc.
With the completion of the transaction, FBA has total assets of approximately $930 million and twelve full-service branch locations.
Olsen Palmer LLC remains one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the total number of whole-bank M&A transactions advised upon over the last three years.