Washington, D.C. – Olsen Palmer is pleased to announce that Catoosa Bancshares, Inc. (“Catoosa”), parent of Capital Bank (Fort Oglethorpe, GA), and FNS Bancshares, Inc. (“FNS”), parent of FNB Bank (Scottsboro, AL), have signed a definitive agreement pursuant to which Catoosa will merge with and into FNS in an all cash transaction.
Olsen Palmer LLC served as exclusive financial adviser to the parent company of Capital Bank.
Upon completion of the merger, the combined company will have assets of $649 million, deposits of $575 million, and gross loans of $460 million, and will operate 16 branches throughout northeast Alabama, northwest Georgia, and in the Nashville and Chattanooga MSAs.
Following the merger, Joseph M. “Joe” Haskins, Chairman, President and CEO of Catoosa, will become the Senior Director of Market Development with the responsibility for identifying and developing opportunities throughout Chattanooga and northwest Georgia.
The transaction, which has been approved by the Boards of Directors of each company and is subject to regulatory approvals, is expected to close in the fourth quarter of 2018.
Olsen Palmer has now advised on approximately $800 million in total bank M&A transaction value over the past 36 months.
If you have any questions or would like additional information, please feel free to contact 202-627-2043 or colsen@olsenpalmer.com.
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.
For more information, please visit www.OlsenPalmer.com.