Recent Financial Services Acquisitions in Alabama
Acquisition Volume in Financial Services in Alabama by Year
Last 5 years
M&A activity across Alabama’s financial services sector spans banking, wealth advisory, brokerage/insurance platforms, and fintech-enabled services. Recent transactions include moves to broaden local footprints—such as FB Financial Corporation combining with Southern States Bancshares, Inc.—alongside acquisitions that add advisory and distribution capabilities.
Deal activity also reflects a broader rebalancing of business lines. For example, Cetera Financial Group acquired Concourse Financial Group Securities, Inc. (CFGS) from Protective Life Corporation, while Simplicity Group Holdings, Inc. acquired related brokerage general agency assets (including Concourse Financial Group Agency) from Protective as part of streamlining to focus on its core insurance business.
Outside traditional banking and wealth channels, the Alabama landscape includes technology-led services. InDebted acquired AmSher Collection Services to support North American expansion and deepen collections capabilities in telecommunications and cable verticals—paired with a phased integration approach for clients.
What Stands Out
- Banking expansion via merger: FB Financial Corporation completed its merger with Southern States Bancshares, Inc., extending its footprint into Alabama.
- Wealth and brokerage platform buildout: Cetera Financial Group and Simplicity Group both acquired Protective-related entities, moving sizable advisor and business operations under their platforms.
- Regional footprint growth in advisory/agency: Simplicity Group’s acquisitions bring Birmingham-based teams and strengthen life insurance and advisor support capabilities.
- Fintech services expanding through acquisitions: InDebted acquired AmSher Collection Services in Hoover, Alabama, to accelerate North American growth and enhance AI-led, consumer-centric collections offerings.
| Buyer (recurring) | Deal type seen in Alabama | Example target |
|---|---|---|
| Simplicity Group | Brokerage general agency / planning expansion | LeSourd Partners; Concourse Financial Group Agency |
| Cetera Financial Group | Wealth advisory platform acquisition | Concourse Financial Group Securities (CFGS) |
| FB Financial Corporation | Bank merger | Southern States Bancshares |
| InDebted | Fintech collections acquisition | AmSher Collection Services |
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March 13, 2026
- Buyer
- Waverly Advisors
- Target
- McBride Financial Advisors
- Seller
- Michael McBride
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
Waverly Advisors, a registered investment adviser based in Birmingham, Alabama, acquired McBride Financial Advisors, a Seahurst, Washington-based wealth management firm managing approximately $181 million in assets under management as of year-end 2025. The deal closed on March 13, 2026, and founder Michael McBride joined Waverly as a Wealth Advisor to expand service capabilities while maintaining the firm’s personalized advisory model.
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March 13, 2026
- Buyer
- NewEdge Capital Group, NewEdge Advisors
- Target
- Stonegate Investment Group
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Addon
Stonegate Investment Group, an advisory firm overseeing about $6 billion in client assets, has affiliated with NewEdge Advisors’ registered investment advisor platform under the Pillar Channel program. The affiliation adds a 13-person advisory team to NewEdge Advisors and pushes the Pillar Channel program beyond $14 billion in client assets.
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February 12, 2026
- Buyer
- Simplicity Group
- Target
- LeSourd Partners
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
Simplicity Group, a holistic financial planning firm headquartered in Summit, New Jersey, has acquired LeSourd Partners, a Birmingham, Alabama-based brokerage general agency. The deal expands Simplicity’s national footprint and strengthens its life insurance and advisor support capabilities while bringing Jake LeSourd, Diane Covin, and Kim Roberts into Simplicity as partners.
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December 10, 2025
- Buyer
- FirstBanc of Alabama, Inc.
- Target
- FBDC Financial Corporation
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
Talladega-based FirstBanc of Alabama, Inc. (parent of First Bank of Alabama) has signed a definitive agreement to merge with and into Fort Payne-based FBDC Financial Corporation (parent of First Fidelity Bank). Under the deal, FirstBanc will pay $20.5 million in aggregate ($52.56 per FBDC share), and First Fidelity Bank will be merged into First Bank of Alabama. The transaction is expected to close no later than Q2 2026, subject to shareholder and regulatory approvals.
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July 11, 2025
- Buyer
- InDebted
- Target
- AmSher Collection Services
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
Australian fintech InDebted has acquired Hoover, Alabama-based collections agency AmSher Collection Services to accelerate its North American expansion and deepen capabilities in the telecommunications and cable verticals. AmSher’s team, including President Seth DeForest, will be integrated into InDebted to enhance its AI-led, consumer-centric collections offering with a phased integration and no immediate changes for clients.
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June 30, 2025
- Buyer
- FB Financial Corporation
- Target
- Southern States Bancshares, Inc.
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
FB Financial Corporation (NYSE: FBK) completed its merger with Southern States Bancshares, Inc. (Nasdaq: SSBK), the parent company of Southern States Bank. Southern States shareholders received 0.800 shares of FB Financial common stock for each share of Southern States stock, and Southern States’ shares ceased trading after June 30, 2025.
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February 26, 2025
- Buyer
- Cetera Financial Group
- Target
- Concourse Financial Group Securities, Inc.
- Seller
- Protective Life Corporation
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Divestiture
Cetera Financial Group completed an asset acquisition of Concourse Financial Group Securities, Inc. (CFGS), a subsidiary of Protective Life Corporation. Approximately 350 financial professionals and more than $12 billion in assets under administration ($4 billion AUM) transitioned to Cetera Wealth Partners as part of Protective's divestiture to focus on its core insurance business.
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November 18, 2024
- Buyer
- United Bancorporation of Alabama, Inc.
- Target
- United Bancorporation of Alabama, Inc. 401(k) Employee Stock Ownership Plan (KSOP)
- Seller
- United Bancorporation of Alabama, Inc. 401(k) Employee Stock Ownership Plan (KSOP), KSOP Trustee
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Recapitalization
United Bancorporation of Alabama, Inc. repurchased all 197,717 shares of its common stock held by its 401(k) Employee Stock Ownership Plan (KSOP) at $54.25 per share, for an aggregate purchase price of approximately $10.7 million. The transaction was negotiated between United and the KSOP Trustee, included fiduciary/financial guidance and an independent appraisal, and closed on November 15, 2024.
-
- Buyer
- Simplicity Group Holdings, Inc.
- Target
- Concourse Financial Group Agency
- Seller
- Protective Life Corporation
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Divestiture
Simplicity Group Holdings, Inc. has acquired Concourse Financial Group Agency (CFGA), a brokerage general agency formerly First Protective, from Protective Life Corporation. CFGA will be merged into Simplicity and remain led by key managers and sales professionals while gaining access to Simplicity's sales, marketing and employee-ownership programs; financial terms were not disclosed.
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- Buyer
- United Bancorporation of Alabama, Inc.
- Target
- Town-Country United Bank
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Divestiture
United Bancorporation of Alabama, Inc. announced that its banking subsidiaries Town-Country United Bank and United Bank will merge effective October 1, 2024, with United Bank as the surviving entity. After completion, United Bank will have approximately $1.3 billion in assets and operate 19 full-service branches plus four loan production and support offices across Alabama and the panhandle of Florida.
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January 6, 2022
- Buyer
- SouthPoint Bancshares, Inc.
- Target
- Merchants Financial Services, Inc., Merchants Bank of Alabama
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
SouthPoint Bancshares, Inc. completed a strategic merger with Merchants Financial Services, Inc., with SouthPoint as the surviving entity. Merchants Bank of Alabama was merged into SouthPoint Bank as a division, creating a combined organization with over $1.0 billion in assets, approximately $0.9 billion in deposits and 10 branches, extending SouthPoint’s franchise along the I‑65 corridor into Cullman, Hanceville and Arab, Alabama.
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- Buyer
- United Bancorporation of Alabama, Inc.
- Target
- Town-Country National Bank
- Seller
- Shareholders of Town-Country National Bank
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
United Bancorporation of Alabama, Inc. (United Bank) signed a definitive agreement to acquire Town-Country National Bank, a Camden, Alabama community bank with approximately $126.2 million in assets, for aggregate cash consideration of $28.5 million. Town-Country will rebrand as Town-Country United Bank and operate as a separate banking subsidiary; TCNB shareholders will receive cash consideration (with a portion paid as a special dividend) and the deal is expected to close in early Q3 2021 subject to shareholder and regulatory approvals.
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- Buyer
- Investar Holding Corporation
- Target
- Cheaha Financial Group, Inc., Cheaha Bank
- Seller
- Shareholders of Cheaha Financial Group, Inc.
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Buyout
Investar Holding Corporation entered into a definitive agreement to acquire Cheaha Financial Group, Inc. and its wholly-owned subsidiary Cheaha Bank for $80.00 per share, valuing the transaction at approximately $41.1 million. The deal, which expands Investar's footprint into eastern Alabama (Oxford) and bolsters its deposit base, is expected to close in early Q2 2021 subject to regulatory and shareholder approvals.
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January 19, 2021
- Buyer
- Hub International Limited
- Target
- Shields Insurance Agency
- Seller
- Shields Insurance Agency
- Industry
- Financial Services
- Location
- Alabama, United States
- Type
- Divestiture
Hub International Limited acquired the assets of Shields Insurance Agency, an independently owned insurance agency with locations in Birmingham and Mobile, Alabama. Bry Shields, CEO of Shields Insurance Agency, will join Hub Gulf South as part of the transaction; terms were not disclosed.
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Frequently Asked Questions
What kinds of financial services acquisitions show up most in Alabama?
The page shows transactions across bank mergers, wealth advisory/brokerage platform buildouts, brokerage general agency acquisitions, and fintech collections acquisitions.
Which recurring buyers appear in multiple Alabama deals?
Recurring names include United Bancorporation of Alabama, Inc., NewEdge Capital Group / NewEdge Advisors, Simplicity Group Holdings, Inc., Cetera Financial Group, SouthPoint Bancshares, Inc., FB Financial Corporation, and Hub International Limited.
Are Protective Life assets part of Alabama deal activity?
Yes. Cetera Financial Group acquired Concourse Financial Group Securities (CFGS) from Protective Life Corporation, and Simplicity Group Holdings, Inc. acquired Concourse Financial Group Agency from Protective.
Do the Alabama deals include non-traditional financial services like fintech?
Yes. InDebted acquired AmSher Collection Services in Hoover, Alabama, to expand its North American collections capabilities focused on telecommunications and cable verticals.