State Bank Financial Corporation Announces FDIC Approval for AloStar Bank of Commerce Merger Transaction
Staff Report From Metro Atlanta CEO
Thursday, September 21st, 2017
State Bank Financial Corporation, the holding company for State Bank and Trust Company, announced that the Bank has received regulatory approval from the Federal Deposit Insurance Corporation for its previously announced merger transaction between the Bank and AloStar Bank of Commerce.
The merger was unanimously approved by the Boards of Directors of both companies and AloStar’s shareholders prior to announcing the transaction on June 15, 2017. While no assurance can be given to this effect, the Company anticipates all closing conditions to be met in order to close the transaction within the next 30 days.
