Form of Support Agreement February 27, 2024Southern States Bancshares, Inc. • February 28th, 2024 • State commercial banks
The undersigned is a director of CBB Bancorp (“CBB”) and is the beneficial owner of shares of common stock, par value $0.01 per share, of CBB (“CBB Common Stock”). CBB and Southern States Bancshares, Inc., an Alabama corporation (“SSB”), have executed an Agreement and Plan of Merger dated as of February 27, 2024 (the “Agreement”) pursuant to which CBB will merge with and into SSB (the “Merger”). SSB has requested the execution and delivery of this letter agreement (“letter agreement”) as a condition to its execution and delivery of the Agreement. In consideration of the substantial expenses that SSB will incur in connection with the transactions contemplated by the Agreement and in order to induce SSB to execute the Agreement and proceed to incur such expenses, the undersigned agrees and undertakes, in his or her capacity as a stockholder of CBB and not in his or her capacity as a director of CBB, as follows:
AGREEMENT AND PLAN OF MERGER by and between SOUTHERN STATES BANCSHARES, INC. and CBB BANCORP dated as of February 27, 2024Agreement and Plan of Merger • February 28th, 2024 • Southern States Bancshares, Inc. • State commercial banks • Alabama
THIS AGREEMENT AND PLAN OF MERGER (the “Agreement”) is made and entered into as of this the 27th day of February, 2024, by and between SOUTHERN STATES BANCSHARES, INC., an Alabama corporation (“SSB”), and CBB BANCORP, a Georgia corporation (“CBB”).
