Olsen Palmer is pleased to announce that on May 1, 2019, First Madison Bank & Trust (“First Madison”) was acquired by United Community Banks, Inc. (“United”, NASDAQ: UCBI) in an all-cash transaction valued at approximately $52 million, equivalent to 1.94x First Madison’s normalized tangible common equity (“TCE”) based on a normalized TCE ratio of 9.0%.
Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First Madison Bank & Trust.
Olsen Palmer is ranked as a Top 5 bank M&A advisor across the entire U.S. according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.
If you would like additional information or have any questions on M&A, valuation, or strategic options please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.