SouthState (SSB) announces a deal to acquire Independent Bank. This deal is set to help SSB to fortify its loans and deposit base and expand its geographical locations.
The United States stock market has shown robust performance recently, with a 1.8% increase over the past week and a significant 26% rise over the last year. In this thriving environment, companies with high insider ownership and strong revenue growth up to 20% stand out as particularly compelling, potentially benefiting from aligned interests between management and shareholders.
SouthState Corporation (NYSE: SSB) ("SouthState") and Independent Bank Group, Inc. (NASDAQ: IBTX) ("Independent Bank Group") jointly announced today that they have entered into a definitive agreement under which SouthState will acquire Independent Bank Group, in an all-stock transaction valued at approximately $2 billion.