Washington, D.C. – Olsen Palmer is pleased to announce that First Freedom Bank, subsidiary of First Freedom Bancshares, Inc. (“First Freedom”), has entered into an agreement to purchase 3 branches from Atlantic Capital Bank, N.A., subsidiary of Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI).
First Freedom has agreed to assume approximately $116 million in customer deposits and purchase approximately $31 million in loans and other assets affiliated with three branches located in Algood, Cookeville, and Gainesboro, 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 First Freedom, with Christopher Olsen serving as lead advisor. This is the 7th bank M&A transaction announced or completed in 2015 in which Olsen Palmer has 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.