Washington, D.C. – Olsen Palmer is pleased to announce that Athens, Tennessee-based Athens Federal Community Bank, National Association (“Athens Federal”), subsidiary of Athens Bancshares Corporation, has agreed to acquire 4 branches from Atlantic Capital Bank, N.A, subsidiary of Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI).
Athens Federal has agreed to assume approximately $104 million in customer deposits and purchase approximately $15 million in loans and other assets affiliated with three branches located in Athens, Lenoir City, Madisonville and Sweetwater, Tennessee.
The acquisition is expected to be completed during the spring of 2016, subject to customary closing conditions, including the receipt of all necessary regulatory approvals.
Olsen Palmer LLC served as exclusive financial advisor to Athens Federal, with Christopher Olsen serving as lead advisor.
This is the 8th M&A transaction announced or completed in 2015 in which Olsen Palmer LLC served as financial advisor and the 15th overall Tennessee bank M&A transaction in which Olsen Palmer professionals have served as financial advisor.
About Olsen Palmer LLC
Olsen Palmer, a nationally-recognized independent investment banking firm that advises community banks across Mergers & Acquisitions, applies a community banking model to investment banking: nimble, high-touch, and conflict-free. We specialize in sell-side advisory, buy-side advisory, valuations, fairness opinions, branch acquisitions / divestitures, and Board-level assessments of strategic options.