The Bank Slate


Southern Bankshares in Ga. raises $19M from private placement

Southern Bankshares in Claxton, Ga., which was sold to an investor group last year, raised $19.1 million through a private placement.

The $170 million-asset company sold common stock on June 27, according to data compiled by Performance Trust Capital Partners.

The data did not include the number of shares sold, pricing, or the investors.

An investor group from Jacksonville, Fla., bought the company in November and hired Scott Verlander, formerly at EverBank, to serve as president and CEO.

Philip Williams, the company’s former president and CEO, was named Georgia banking president.

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