What is FSG Bank?
FSG Bank was a subsidiary of First Security Group, and 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.
Thank you for reading this guide and overview of FSG Bank. To learn more and accelerate your career in finance, the additional resources below will be helpful: