In Brief: IPO by First Security of Tenn. Goes Well

First Security Group Inc. of Chattanooga, Tenn., went public Wednesday and in its first two days of trading sold nearly 80% of the 4.5 million shares in its offering.

The $795 million-asset company decided to go public to raise more capital to complete its recently announced deal to buy the $169 million-asset Jackson Bank and Trust of Gainesboro, Tenn., and to make further acquisitions.

First Security is the holding company for FSGBank, which has 30 branches in middle and eastern Tennessee and northern Georgia.

Keefe, Bruyette & Woods Inc. of New York is the lead investment bank managing the offering.