What is FSG Bank?
FSG Bank was a subsidiary of First Security Group. In 2016, it merged with Atlanta Bank in an all-stock deal that was valued at $160 million. FSG was founded in 1999, in Chattanooga, by Roger Holley. At its peak, the bank operated 36 branch locations and posted more than $1 billion in assets.
About the FSG and Atlanta Bank Merger
The merger was announced in March 2015 under the terms that Atlantic Capital would offer approximately $2.35 in share value to FSG shareholders, compared to the company’s closing share price of $2.27 then.
The deal was eventually approved by the board of directors of both banks, as well as their shareholders and the regulators.
Learn more about the deal here.
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