First Southern State-Vantage Merger Complete
On October 31, 2019 First Bancshares of Stevenson, Inc. of Stevenson, AL (“FBS”) and Vantage Bancshares, Inc. of Albertville, AL announced the closing of their merger which combines two well-respected banking franchises and creates a $525 million institution. The company operates 10 locations as First Southern State Bank (subsidiary of FBS) in four northeast Alabama counties.
The deal consideration to Vantage shareholders was a mix of cash and a special cash dividend. Other financial terms were not disclosed.
Porter White Capital Advisors, Inc. served as financial advisor to FBS in rendering a fairness opinion.
Principals of Porter White Capital Advisors, Inc. have advised on 9 Alabama community bank mergers since 2016.
For more information on how we can assist your bank with its merger and acquisition needs, please email Michael Stone or call him at (205) 252-3681.
Securities offered through Porter White Capital, LLC, member of FINRA/SIPC and a wholly owned subsidiary of Porter White Companies, Inc.