Southern Bankshares, Inc. Completes $20 Million Common Stock Offering To Drive Growth and Market Expansion
11 Julio 2024 - 8:30AM
Business Wire
Southern Bankshares, Inc. (the “Company”), the holding company
of The Claxton Bank (the “Bank”), is pleased to announce the
completion of a $20 million private placement of its common stock.
This growth capital will drive expansion of lending and banking
services to customers across all of its markets, including the
opening of its first Jacksonville, FL office.
“I’m pleased to announce the successful completion of our growth
capital raise as it provides the foundation for our expansion into
Jacksonville and continued growth in our Georgia markets,” said
Scott Verlander, president and chief executive officer. “We are
investing in top talent to deliver a high-touch,
relationship-focused customer experience and look forward to
capitalizing on the opportunities in front of us.”
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities. The securities
offered and sold in the private placement have not been registered
under the Securities Act of 1933, as amended (the “Securities
Act”), or any state securities laws, and may not be offered or sold
in the United States absent registration, or an applicable
exemption from registration under the Securities Act and applicable
state securities laws.
Burke Stelling Group, LLC served as financial advisor and Smith
Mackinnon, PA served as the legal advisor to the Company for the
private placement.
The Claxton Bank
The Claxton Bank is a full-service, Georgia state-chartered
community bank headquartered in Claxton, Georgia, with
approximately $170 million in total assets as of March 31, 2024.
The Bank provides a wide range of banking products and services
through its digital offerings and branch offices in Claxton and
Richmond Hill, Georgia and will be expanding to serve customers in
Jacksonville, Florida. For more information, visit
www.tcbga.bank.
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Scott Verlander President and CEO sverlander@tcbga.bank
904-717-7051