ATLANTA, Dec. 08, 2016 (GLOBE NEWSWIRE) -- State Bank Financial Corporation (NASDAQ:STBZ), the holding company for State Bank and Trust Company, announced today that the Bank has received regulatory approval from the Federal Deposit Insurance Corporation for its previously announced merger transactions between the Bank and The National Bank of Georgia, the wholly-owned subsidiary of NBG Bancorp, Inc. (“NBG”), and S Bank, the wholly-owned subsidiary of S Bankshares, Inc.
NBG’s shareholders approved its merger with the Company on July 25, 2016. The S Bankshares transaction remains subject to approval by its shareholders. S Bankshares’ shareholder meeting to vote on the merger is scheduled for December 13, 2016. While no assurance can be given to this effect, the Company anticipates receiving all other regulatory approvals and satisfying other customary closing conditions necessary for closing both transactions before the end of 2016.
About State Bank Financial Corporation
State Bank Financial Corporation (NASDAQ:STBZ), with approximately $3.6 billion in assets as of September 30, 2016, is an Atlanta-based bank holding company for State Bank and Trust Company. State Bank operates 25 full-service banking offices in Metro Atlanta, Middle Georgia and Augusta, Georgia, and seven mortgage origination offices.
To learn more about State Bank, visit www.statebt.com.