What is FSG Bank?
FSG Bank was a subsidiary of First Security Group. In 2016, it merged with Atlanta Bank in an all-stock dealAsset Purchase vs Stock PurchaseAsset purchase vs stock purchase - two ways of buying out a company, and each method benefits the buyer and seller in different ways. This detailed guide explores and lists the pros, cons, as well as reasons for structuring either an asset deal or a stock deal in an M&A transaction. 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 assetsTypes of AssetsCommon types of assets include current, non-current, physical, intangible, operating, and non-operating. Correctly identifying and.
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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 directorsBoard of DirectorsA board of directors is a panel of people elected to represent shareholders. Every public company is required to install a board of directors. of both banks, as well as their shareholders and the regulators.
Learn more about the deal here.
Additional Resources
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