Business
Community First Credit Union to Acquire Substantially All Assets of First Southern Bank
Community First Credit Union to Acquire Substantially All Assets of First Southern Bank.
About this update from Fsbh Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Community First Credit Union to Acquire Substantially All Assets of First Southern Bank\r\n \r\n \r\n\r\n\r\nCommunity First Credit Union to Acquire Substantially All Assets of First Southern Bank\r\n\r\n\r\n\r\n\r\n\r\n\r\n \r\n JACKSONVILLE, Fla. and BRADENTON, Fla., Nov. 18, 2025 /PRNewswire/ -- Community First Credit Union of Florida (\"Community First\") and FSBH Corp. (\"FSBH\") today announced a definitive agreement under which Community First will acquire substantially all of the assets and assume substantially all of the liabilities of First Southern Bank, headquartered in Waycross, Georgia. FSBH Corp. (OTCPK: FSBH) is the holding company for First Southern Bank.\r\n The transaction has been unanimously approved by the boards of directors of both institutions. Following the completion of the transaction, FSBH will liquidate and dissolve and distribute its remaining assets to its stockholders. When the acquisition is completed, Community First will have approximately $3.3 billion in assets, $2.5 billion in loans, $2.9 billion in member shares and deposits and will have 31 branches throughout Georgia and Florida. In connection with the transaction, the shareholders of FSBH will receive approximately $17.14 in cash for each share of FSBH common stock.\r\n The acquisition broadens Community First's commercial and small business offerings, extends its footprint into Southeast Georgia and throughout Florida, and enhances diversification and talent particularly in commercial banking. As members of Community First, First Southern Bank customers will enjoy full access to the complete range of products and services offered by Community First for both consumers and businesses.\r\n Sam Inman, President and CEO of Community First, said \"While we love the growth opportunities that come with the transaction, this acquisition is founded on a unified vision between Community First and First Southern Bank. Both institutions emphasize a community-oriented and relationship-based approach, maintaining a culture that respects individuals and prioritizes service excellence.\"\r\n Inman continued, \"This acquisition is more than just expansion; it amplifies our shared mission to strengthen our communities and provide unparalleled service through building relationships, growing communities, and doing the right thin...