First Southern Bank

What First Southern Bank does

First Southern Bank is a privately-held state-chartered community bank headquartered in Waycross, Georgia, operating 7 branch locations across Southern Georgia (Waycross, Jesup, Patterson, Blackshear) and West-Central Florida (Bradenton, Sebring, Stuart), plus a Loan Production Office. Founded in 1907 as The Patterson Bank, the institution was recapitalized in March 2013 by 41 local investors and rebranded under current Chairman and CEO Daniel S. Hager, who led a $16 million capital raise in February 2019 to fund Florida expansion. The bank is held by FSBH Corp. (OTCPK: FSBH) and is currently subject to a definitive agreement to be acquired by Community First Credit Union of Florida, announced November 18, 2025, at approximately $17.14 per share, with closing anticipated in Q2 or Q3 2026.

The bank provides a full consumer and small-business banking product suite, including interest-bearing and no-fee checking, money market and passbook savings, CDs/IRAs, HSAs, consumer/mortgage/construction/home equity/mobile home loans, and commercial real estate, construction, agriculture, small business, equipment, and lines of credit loans. Cash management services include wire transfers, ACH origination, Remote Deposit Capture, Positive Pay, dual controls, and merchant services for Visa/MasterCard/Amex/Discover. Digital channels run on Fiserv infrastructure, supporting iOS/Android mobile banking with biometric login, Zelle peer-to-peer payments, mobile deposit capture ($1,500 per item / $2,500 daily), CardValet debit card controls, Quicken/QuickBooks Direct Connect, bill pay, and 24/7 telephone banking. A wholly-owned insurance subsidiary, First Southern Insurance (Lily), distributes auto, home, business, life, renters, pet, and travel insurance through an embedded insurance platform.

Revenue is generated through traditional community bank mechanics: net interest income from commercial real estate, construction, agriculture, small business, and consumer loans plus a securities portfolio, supplemented by deposit and overdraft fees ($35 per item), wire transfer fees, credit card interchange, and merchant services residuals. The bank's go-to-market is relationship-led through local loan officers and branch managers in underserved rural communities, supported by 5-Star Superior ratings from BauerFinancial across 5 consecutive quarters (through March 2025).

Name

First Southern Bank

Legal name

First Southern Bank

Website

https://fsb-bank.bank

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

11–50 employees

Short description

First Southern Bank is a privately-held Georgia community bank operating 7 branches across Southern Georgia and West-Central Florida, offering consumer and small-business deposit, lending, cash management, and digital banking products, pending acquisition by Community First Credit Union of Florida in Q2/Q3 2026.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking
• Commercial lending
• Consumer deposits
• Business cash management
• Mortgage loans

Headquarters

HQ city

Waycross

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans (commercial real estate, construction, agriculture, small business, consumer) and securities
2. Deposit and Service Fees: Monthly maintenance fees, overdraft fees ($35), ATM fees, wire transfer fees, and other banking service charges
3. Credit Card Revenue: Income from credit card transactions and interchange fees
4. Merchant Services: Credit card processing services for business customers

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

First Southern Bank is a community bank providing personal and business banking products and services across Southern Georgia and West Central Florida through 7 branch locations. Core offerings include deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial loans (mortgages, home equity, construction, commercial real estate, agriculture, equipment), credit cards, and digital banking channels (online banking, mobile app, Zelle). It also offers business cash management services such as wire transfers, ACH origination, remote deposit capture, positive pay, and merchant services.

Product overview

First Southern Bank is a traditional community bank offering a comprehensive suite of personal and business banking products and services across 7 branch locations in Georgia and Florida. The bank's personal banking offerings center on deposit accounts (Maximum Checking, Checking 365, Money Market, Savings, CDs/IRAs, HSAs) and lending products (Consumer Loans, Mortgages, Construction Loans, Home Equity Loans, Mobile Home Loans, CD Secured Loans), supplemented by Overdraft Privilege protection. Business banking encompasses Business Checking, Business Now, IOLTA, Business Savings, and Business Money Market accounts, alongside Business Loans (Commercial Real Estate, Construction, Agriculture, Small Business, Equipment, Lines of Credit) and Cash Management Services (Wire Transfers, ACH Origination, Remote Deposit Capture, Positive Pay, Merchant Services). The bank also offers VISA Personal and Business Credit Cards with UChoose Rewards and CardValet debit card controls. Digital banking channels include Online Banking, Mobile Banking (iPhone/Android/Kindle), Bill Pay, Zelle, Popmoney, Transfer Now, eStatements, and Telephone Banking. Insurance products are offered through the Lily sub-brand. The bank operates under holding company FSBH Corp. (OTCPK: FSBH) and is pending acquisition by Community First Credit Union of Florida in 2026.

Differentiator

Problem solved

Functional benefit

Brands

• First Southern Insurance: Insurance subsidiary offering auto, home, business, life, renters, pet and travel insurance products.

Products and services

• Maximum Checking Interest-bearing personal checking account with tiered variable rate, $100 minimum opening deposit, no monthly maintenance fee, unlimited check writing, and nationwide ATM refunds.
• Checking 365 No-frills personal checking account with $100 minimum opening deposit, no monthly maintenance fee, and no minimum balance requirement.
• Your Choice Money Market Interest-bearing money market account with $2,000 minimum opening deposit, tiered variable rate, and monthly maintenance fees if balance falls below threshold.
• Passbook Savings Basic personal savings account with $50 minimum opening deposit, variable interest rate, and quarterly maintenance fees for balances below $300.
• Health Savings Account (HSA) Tax-advantaged HSA paired with a High Deductible Health Plan, featuring $100 minimum deposit, no monthly fees, and tiered variable interest rate.
• Certificates of Deposit / IRAs Fixed-market-rate CDs and IRAs with $500 minimum initial deposit, multiple term options, and early withdrawal penalties.
• Consumer Loans Personal consumer loans for cars, boats, RVs, and other personal items, including personal lines of credit and new/used auto loans.
• Mortgage Loans Full mortgage lending offering USDA, FHA, VA, and conventional loan programs provided by in-house mortgage specialists.
• Construction Loans Construction loans for building new homes, home additions, or remodeling projects managed through local branches.
• Home Equity Loans Home equity lines of credit allowing customers to convert home equity into available funds for home improvements, debt consolidation, or major purchases.
• Business Checking Business checking account with $250 minimum opening deposit, no monthly maintenance fee, unlimited cash deposits and check writing, and Business CardValet debit card privileges.
• Business Now Interest-bearing checking account for sole proprietorships, qualifying non-profit organizations, and government agencies with $250 minimum opening deposit.
• Commercial Real Estate Loans Commercial real estate financing for office purchases, business locations, investment properties, and farmland offered through local loan officers.
• Commercial Construction Loans Construction financing for local businesses with options tailored to individual business needs and growth objectives.
• Agriculture Loans Crop production loans and equipment financing for local farmers and agricultural operations in the bank's service area.
• Small Business Loans Financing for small business location purchases, equipment, and working capital needs with partnership support for local business owners.
• Equipment Loans Financing for business equipment purchases of any size with competitive rates and terms provided by local bank service.
• Business Lines of Credit Flexible credit lines to address cash flow shortages, equipment purchases, or growth opportunities for businesses.
• Business Cash Management Services Suite of business banking services including wire transfers, ACH origination, Remote Deposit Capture, Positive Pay fraud prevention, dual control features, and Merchant Services for credit card processing.
• VISA Personal Credit Card Personal VISA credit card with UChoose Rewards program for consumer spending.
• VISA Business Credit Card Business VISA credit card with UChoose Rewards for business spending.
• Mobile Banking App Mobile banking application for iPhone/iPad, Android, and Kindle devices enabling account viewing, transfers, bill payments, Popmoney person-to-person payments, mobile check deposit with $1,500 per item and $2,500 daily limits, Zelle, and biometric login.
• Online Banking 24-hour real-time online banking access with features including balance checking, bill payment, transfers, account history, Quicken connectivity, eStatements, and secure access.
• Zelle Fast, safe, free peer-to-peer payment service integrated within online and mobile banking, allowing money transfers using U.S. mobile numbers or email addresses with typically minutes delivery.
• Banking Calculators Custom financial planning tools to assist customers in making smart lending and financial decisions.
• Lily Insurance Insurance products platform (via insuranceaisle.com) offering auto, home, business, life, renters, pet, and travel insurance, with the bank comparing quotes from multiple insurers to find competitive options.

Quantifiable outcome

• 5-Star Superior rating from BauerFinancial for 5 consecutive quarters indicating strong capital, loan quality, and profitability

Named customers1 record

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

One partnership is on record.

• Community First Credit Union of FloridaflagshipStrategic or Co-development Partner · 18 November 2025Community First Credit Union of Florida announced acquisition of substantially all assets and assumption of substantially all liabilities of First Southern Bank in a definitive agreement. The transaction was unanimously approved by both boards of directors. Following completion, Community First will have approximately $3.3 billion in assets, $2.5 billion in loans, $2.9 billion in member shares and deposits, and 31 branches throughout Georgia and Florida. FSBH Corp. shareholders will receive approximately $17.14 in cash per share. Transaction expected Q2-Q3 2026 pending regulatory and shareholder approval.

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• United Community Banks: Larger Georgia-headquartered regional bank offering a full suite of consumer and commercial banking across the Southeast; overlaps significantly with First Southern in geography and product mix but operates at meaningfully greater scale.
• Pinnacle Financial Partners: Southeast-headquartered regional bank combining relationship-driven community banking with commercial expertise; competes for the same small business and consumer relationships that anchor First Southern's franchise.
• Cadence Bank: Mid-sized regional bank with strong Southeastern presence offering consumer, commercial, and wealth banking services - a broader incumbent competing for the same deposit and small-business relationships as First Southern.

Direct peers

• Ameris Bancorp: Georgia-based community bank holding company with deep Southeast footprint offering deposit, commercial, agricultural, and consumer lending products closely mirroring First Southern's product set and relationship-based model.
• Colony Bankcorp: Georgia-headquartered community bank holding company operating across Southern markets with comparable consumer, small business, and commercial real estate lending, and a similarly multi-branch community-banking profile to First Southern Bank.

Regional players

• Crews Bank & Trust: Long-standing Florida-based community bank providing personal, business, and trust services across Central Florida - directly comparable in scale and product mix to First Southern's Florida branch operations.
• Seacoast Banking Corporation of Florida: Florida-focused community and commercial bank providing deposit, mortgage, and business banking services in many of the same West/Central Florida markets where First Southern operates its Bradenton, Sebring, and Stuart branches.
• Heritage Financial Group / Heritage Bank of the South: South Georgia community bank serving small towns and rural markets with consumer and business banking products, overlapping with First Southern's Southern Georgia branch footprint.

Emerging players

• Live Oak Bancshares: Technology-forward small business banking franchise serving rural and community-oriented markets nationwide; competes for small business deposits and lending in overlapping geographies with a digital-first model.

Others

• Community First Credit Union of Florida: The acquiring credit union in the pending transaction; operates as a competing community-focused deposit and lending institution in many of the same Florida markets and is the direct counterparty in the announced acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/firstsouthernga
• Facebookfacebook.com/pg/firstsouthernbankga
• LinkedInlinkedin.com/company/first-southern-banking
• Instagraminstagram.com/firstsouthernbank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Southern Bank