Southern States Bancshares, Bank of Alabama with 15 branches in Alabama and Georgia, attracted 38 million dollars, releasing 2 million shares (50% secondary) on 19 dollars - the minimum price of the stated range from 19 to 21 dollar. Taking into account the actual price of the IPO, the market value of the company will be 166 million dollars.
Southern States Bancshares - bank holding, primarily operating through its subsidiary Southern States Bank, a full-service banking company, offering deposits, loans and other banking products and services for legal entities and individuals. She provides banking services in 15 offices in Alabama and Georgia, and also offers loans in the Atlanta office. As of 31 Martha 2021 total assets of Southern States Bancshares were 1,5 billion dollars, total loans - 1,1 billion dollars, total deposits - 1,3 billion dollars, and the total share capital is 145 million dollars.
Southern States Bancshares plans listing on the stock exchange Nasdaq under the ticker SSBK. Keefe Bruyette Woods and Truist Securities were co-arrangers of the share issue.
