Alston & Bird Represents FB Financial in Acquisition of Southern States Bancshares

Alston & Bird client Franklin Financial Network Inc., parent company of Franklin Synergy Bank, has announced an agreement to merge with FB Financial Corporation, parent company of FirstBank, in a transaction valued at $611 million.

Alston & Bird client The First Bancshares, Inc., holding company for The First, A National Banking Association, announced that it plans to acquire First Florida Bancorp, Inc., the parent company of First Florida Bank, for approximately $85 million.

Alston & Bird represented Stratos Wealth Holdings and its Stratos business, a family of companies focused on supporting the success of financial advisors, in securing a $527 million strategic growth investment from SEI, a global provider of financial technology, operations, and asset management services. The business partnership will enable Ohio-based Stratos to strengthen its national network of over 360 financial advisors and planning practitioners working in more than 26 states.

Alston & Bird client SmartFinancial Inc., parent company of SmartBank, has announced a proposed agreement to acquire Progressive Financial Group Inc., parent company of Progressive Savings Bank, in a cash and stock transaction valued at $41.4 million.