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 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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