Community First Credit Union in Jacksonville, Fla., has agreed to buy First Southern Bank in Waycross, Ga.
The $2.9 billion-asset credit union said in a press release that it reached a deal with FSBH Corp. to buy substantially all of the assets and assume most of the liabilities of the $400 million-asset First Southern. FSBH shareholders will receive about $17.14 in cash for each share of their common stock.
The deal is expected to close in the second or third quarter of 2026.
“While we love the growth opportunities that come with the transaction, this acquisition is founded on a unified vision between Community First and First Southern Bank,” Sam Inman, the credit union’s president and CEO, said in the release. “This acquisition is more than just expansion; it amplifies our shared mission to strengthen our communities and provide unparalleled service through building relationships, growing communities, and doing the right things for the right reasons.”
Community First was advised by Olden Lane and Honigman. FSBH was advised by Janney Montgomery Scott and Alston & Bird.