Two Legacies. One Stronger Community.
We’ve created this page as a resource for you as Community First Credit Union and First Southern proceed with the proposed merger application. Learn more about what you can expect.
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Rooted in Trust. Growing for You.
Community First will acquire substantially all of the assets and assume substantially all of the liabilities of First Southern Bank, headquartered in Waycross, Georgia.
The transaction has been unanimously approved by the boards of directors of both institutions. Following the completion of the transaction, FSBH will liquidate and dissolve and distribute its remaining assets to its stockholders. When the acquisition is completed, Community First will have approximately $3.3 billion in assets, $2.5 billion in loans, $2.9 billion in member shares and deposits and will have 31 branches throughout Georgia and Florida.
Learn More About What You Can Expect
Bookmark this page. It's where we will post the latest information about the acquisition, FAQ, and more.
What to expect:
- You will now see First Southern Powered by Community First signage at your branch.
- You may have some changes in account fees. See the new fee schedule here.
- Your deposits will now be NCUA insured. Coverage amounts remain the same.
You can:
- Continue banking at our 7 locations with team members you're familiar with.
- Login to online banking as you normally do.
- Use your credit cards, debit cards, and checks. Your account numbers stay the same. We will alert you at least 30 days in advance of any changes to your accounts.
A Unified Vision
Sam Inman
Chief Executive Officer, Community First Credit Union
"This acquisition is founded on a unified vision between Community First and First Southern Bank. Both institutions emphasize a community-oriented and relationship-based approach, maintaining a culture that respects individuals and prioritizes service excellence."
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Daniel S. Hager
Chairman and CEO of FSBH and First Southern
"First Southern customers will continue to see their trusted familiar banker at each location. The newly combined institution will have the ability to offer highly personalized financial services, which will enable us the financial capabilities to support further expansion."
FAQ
Do I need to replace my First Southern debit, credit cards or check?
Your existing debit cards and checks will continue to function normally and will not need to be replaced. If, in the future, these items are replaced with CFCU branded items, you will be notified in advance. Once the systems are merged, all First Southern customers will be issued a new CFCU debit card.
What should I do now?
First Southern customers can now become CFCU members and CFCU will pay for your membership share account. First Southern customers should opt-in online at myCommunityFirst.org or visit their local branch to submit a CFCU Membership Opt-In Form to ensure a seamless account transition and avoid delays when the systems merge in the spring of 2027.
In the spring of 2027, CFCU will transition all of the First Southern accounts associated with your name to comparable CFCU membership accounts. If you have opted in, you will be given a credit union membership account at no cost, and you will not be subject to passing the qualification requirements for new memberships.
In the spring of 2027, CFCU will transition all of the First Southern accounts associated with your name to comparable CFCU membership accounts. If you have opted in, you will be given a credit union membership account at no cost, and you will not be subject to passing the qualification requirements for new memberships.
What about my current First Southern accounts, online account access and routing numbers?
You can continue to bank normally at all First Southern locations under your First Southern account agreement. All First Southern locations will remain open to continue serving you during normal business hours. Your online logins, account numbers, checks, debit cards, bill pay, ACH, and direct deposits will all remain the same. All bank ATMs will remain available, and you will continue to have access to the contents of your safe deposit box.
What will happen to my direct deposits and ACH payments?
All direct deposits (social security, payroll, etc.), automatic withdrawals or transfers, and any transactions will continue to process and post to your account. If any change is necessary in the future, you will receive notification at least 30 days in advance of any change.
Will fees change?
The CFCU fee schedule was mailed to customers on October 2, 2026. You can find the Community First fee schedule here.
Will I be able to open a new account at an First Southern location after October 2, 2026?
If you are a current First Southern customer, you can open a new account at First Southern locations. These accounts will automatically be transitioned to CFCU membership accounts when the systems merge if you filled out an opt-in form when you opened the account. The tellers at your local branch can help you complete the process in minutes.
Will my deposits be insured?
Yes. Your accounts will remain federally insured at the same levels. Since we are a credit union and not a bank, your money which used to be insured by the FDIC will now be insured by the NCUA. Each account will be insured by the NCUA up to $250,000 per member, per account type.
Will my First Southern loans and mortgages remain the same?
Your existing loans and mortgages will transfer to CFCU and will retain the same terms. The physical address for mailed payments will remain the same.
When can I use CFCU locations?
First Southern customers can not conduct transactions at CFCU branches until the account systems merge in spring of 2027. First Southern debit cards can be used at CFCU ATMs for withdrawals only from October 2, 2026 until the systems merge in spring of 2027.
What will the combined organization be called?
The legal name of the combined organization will be Community First Credit Union of Florida. It will be commonly referred to as Community First Credit Union, or Community First, as is the case today.
How large will the combined organization be?
When approved, the organization will have more than $3.3 billion in assets, 31 branch offices across Northeast Florida, Southeast Georgia, and mid-Florida, and over 530 teammates.
Where are First Southern Bank’s branches?
First Southern Bank has seven locations - Four in Southeast Georgia in Waycross, Blackshear, Patterson, and Jesup. Three in mid-Florida in Bradenton, Sebring, and Stuart.
Why is this acquisition happening?
The organizations share a community-oriented, relationship-based approach. Combining will expand services and strengthen community impact.
What happens to First Southern Bank employees?
Community First expects to retain all First Southern Bank employees. The combined team will be approximately 530.
Is the acquisition finalized?
The organizations have signed a definitive agreement, but the transaction requires regulatory approval. This typically takes four to seven months.
What is the benefit of this to Community First and its members?
All of Community First’s members will benefit from an expanded network and access to services across Florida and South Georgia. In addition, First Southern offers exceptional commercial products and services to strengthen support of businesses small and large.
What is a Credit Union and how is it different from a Bank?
Unlike a traditional bank, credit unions operate under a cooperative model, emphasizing a member-owned structure that places the well-being of their community and members at the forefront. Credit unions operate on a not-for-profit basis, focusing on the wellbeing of their members rather than maximizing profits for external shareholders. This cooperative model is rooted in a democratic governance structure, giving members equal voting rights and the ability to elect the board of directors. It’s also important to note that a credit union’s Board of Directors are volunteers and not compensated for their role. See a comparison here.
Who is Community First Credit Union?
Community First is a state-chartered credit union based in Jacksonville, serving anyone who lives or works on the First Coast. Community First is among Florida’s largest credit unions, with $2.9 billion in assets, more than 190,000 members, 24 locations, and more than 450 teammates. It offers banking, loans, mortgages, and investments for consumers and businesses.
Who is First Southern?
First Southern has been a leading financial services provider for consumers and small businesses since 1907 and offers a full range of banking and lending products. Headquartered in Waycross, Georgia, First Southern has seven branch locations. Hours vary per location and can be found here. Branch locations offer checking, savings, commercial, consumer and residential loans, ATM’s, online banking, cash management services, 24/7 telephone banking and a mobile app for banking on the go.