ATLANTA, Sept. 20, 2017 (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 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.
About State Bank Financial Corporation
State Bank Financial Corporation (NASDAQ:STBZ), with approximately $4.2 billion in assets as of June 30, 2017, is an Atlanta-based bank holding company for State Bank and Trust Company. State Bank operates a full service banking business and offers a broad range of commercial and retail banking products to our customers throughout seven of Georgia’s eight largest MSAs.
To learn more about State Bank, visit www.statebt.com.