The First Bancshares completed the acquisition and merged with Southwest Georgia Financial in an $88m deal.

The First Bancshares, a bank holding company, completed the acquisition and merged with Southwest Georgia Financial, a provider of banking services, in an $88m deal. Each SGB shareholder received 1 share of First Bancshares’ common stock in exchange for each share of SGB common stock held prior to the merger. As a result of the merger, the combined Company now has approximately $4.5bn in total assets, $3.6bn in total deposits and $3bn in total loans. "We are pleased to join forces with Southwest Georgia Bank. This combination brings together two strong community banks with a common vision to serve our clients through our local markets and build value for our shareholders. Southwest Georgia Bank brings a rich history of being a trusted financial partner through its well-respected network of community bankers," M. Ray Cole, First Bancshares Vice Chairman, President & CEO.