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 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 classifying the types of assets is critical to the survival of a company, specifically its solvency and risk. An asset is a resource controlled by a company which future economic benefit.
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 essentially a panel of people who are elected to represent shareholders. Every public company is legally required to install a board of directors; nonprofit organizations and many private companies – while not required to – also establish a board of directors. of both banks, as well as their shareholders and the regulators.
Learn more about the deal here.
Additional Resources
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:
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