Fidelity BancShares Acquires Affinity Bancshares for $142.8 Million in a Cash Deal

Fidelity BancShares (N.C.), Inc. entered a merger agreement on March 30, 2026, to acquire Affinity Bancshares, Inc. (AFBI) in an all-cash deal valued at $142.8 million.

Deal Structure:

Each Affinity shareholder will receive $23 per share in cash, representing a premium of 17.35% from the stock’s last close.

Company Profile:

Affinity is a bank holding company with approximately $882 million in assets that provides deposit accounts, lending, and investment services through its subsidiary, Affinity Bank. It focuses on commercial real estate, construction, small business, and consumer banking, operating primarily in Georgia.

Fidelity BancShares (N.C.), Inc. is the holding company of The Fidelity Bank that provides personal and business banking services, including lending, mortgages, government-backed loans, and wealth management. It operates across North Carolina, South Carolina, and Virginia, with total assets of about $4.5 to $4.6 billion.

Deal Details and Timeline:

Through this deal, Fidelity is now entering the Georgia market for the first time.

The combined company will have about $5.5 billion in total assets, $4.6 billion in deposits, and $3.6 billion in loans.

Fidelity will run two branches in Georgia, along with 52 branches in North Carolina, two in South Carolina, and one in Virginia.

The deal is expected to close in the third quarter of 2026.

Performance Trust Capital Partners served as financial advisor to Affinity, with Luse Gorman acting as its legal advisor. Raymond James & Associates advised Fidelity on the financial side, while Ward and Smith provided legal counsel.

Fidelity is acquiring Affinity at a multiple of 1.25 times its tangible book value.

Deal Metrics:

For an in-depth understanding of this merger and acquisition deal, you can visit the Deal Metrics page here:

Deal Metrics for the acquisition of Affinity Bancshares, Inc. (AFBI) by Fidelity BancShares (N.C.), Inc.

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article