Community First Credit Union of Florida Completes Acquisition of First Southern Bank

Credit Union expands to South Georgia, South Central Florida

Community First Credit Union of Florida (Community First) announces the completion of the acquisition of First Southern Bank (FSBH Corp.) formerly headquartered in Waycross, Georgia. Community First now has approximately $3.3 billion in assets, $2.5 billion in loans, $2.9 billion in member shares and deposits, 32 branches and 530 employees. The acquisition was completed October 2, 2026. Community First Credit Union is a 91-year old community credit union headquartered in Jacksonville and First Southern Bank was founded in 1907.

The completed acquisition broadens Community First’s commercial and small business offerings, extends its footprint into Southeast Georgia and South Central Florida, and enhances diversification and talent, particularly in commercial banking. As members of Community First, former First Southern Bank customers will have access to the complete range of member-focused financial products and services offered by Community First for both consumers and businesses and insured by the National Credit Union Administration (NCUA).

“We are proud to welcome First Southern Bank customers to our membership,” said Sam Inman, president and CEO of Community First. “We are combining two strong legacies to build stronger communities with trusted, local customer service. Our combined team is community-oriented and relationship-based and is committed to a culture that respects individuals and prioritizes service excellence.”

Community First will retain all First Southern Bank employees and First Southern Bank Chairman and CEO Daniel S. Hager and the bank’s executive team will join Community First Credit Union leadership. First Southern Bank’s seven locations across South Georgia and South Central Florida will become Community First Credit Union branches effective immediately. Full integration of software systems is scheduled for summer 2027.

The transaction was completed on October 2, 2026. The acquisition was approved by the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation (FDIC), the Florida Office of Financial Regulation (OFR) and the Georgia Department of Banking and Finance (DBF). The acquisition was announced in November 2025 after approval by both institutions’ boards of directors. Shareholders at First Southern Bank also approved the acquisition.

Community First was advised by Olden Lane Inc. as financial advisor and Honigman, LLC as legal counsel. FSBH Corp. was advised by Janney Montgomery Scott LLC as financial advisor and Alston & Bird, LLP as legal counsel.

Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville. Community First has approximately $3.3 billion in assets, $2.5 billion in loans, $2.9 billion in member shares and deposits, 32 branches throughout Georgia and Florida and 530 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses. For more, visit www.communityfirstfl.org.