Olsen Palmer is pleased to announce that Catoosa Bancshares, Inc., parent company of Capital Bank (Fort Oglethorpe, Georgia), has been acquired by FNS Bancshares, Inc., parent company of FNB Bank (Scottsboro, Alabama) in an all-cash transaction.
Olsen Palmer LLC served as exclusive financial adviser to Catoosa Bancshares, Inc., parent of Capital Bank.
The combined institution, which has combined assets of approximately $670 million, total deposits of $595 million, and gross loans of $465 million, operates 16 branches throughout northeast Alabama, northwest Georgia, and in the Tennessee MSAs of Nashville and Chattanooga.
Joseph M. “Joe” Haskins, Chairman, President and CEO of Capital Bank, has assumed the role with FNB Bank as Senior Director of Market Development throughout Chattanooga and northwest Georgia.
Download Transaction Announcement (PDF)
About Olsen Palmer LLC
Olsen || Palmer is an independent, nationally-recognized investment banking firm that exclusively advises financial institutions across Mergers & Acquisitions. By design, advising clients is our only business allowing a truly client-centric approach: nimble, high-touch, and conflict-free. Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.