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Sandler O'Neill reports 5.48% stake in First Security Group
By Lisa Kerner
Charlotte, N.C., Oct. 16 - A group of First Security Group, Inc. shareholders led by Sandler O'Neill Asset Management, LLC bought 246,400 shares between Aug. 12 and Oct. 6 at prices from $7.525 and $7.875 each, according to a schedule 13D filed with the Securities and Exchange Commission.
The investors beneficially own 900,000 shares, or 5.48%, of the Chattanooga, Tenn., bank holding company.
Sandler O'Neill and its affiliates acquired the stock as an investment but may engage in discussions with management, the board of directors and other shareholders regarding First Security's operations, governance, strategy and plans, the filing said.
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