Bradley County Financial Corp. (“Bradley”), the holding company of Bank of Cleveland and Builtwell Bancorp, Inc. (“Builtwell”), the holding company of Builtwell Bank, announced that Builtwell has acquired Bradley. With the completion of the transaction, Builtwell is now the surviving entity and will be the parent company of both Builtwell Bank and Bank of Cleveland until Bank of Cleveland is merged with and into Builtwell Bank at a later date.
Olsen Palmer LLC served as financial advisor to Bradley County Financial Corp. and issued a fairness opinion to its Board of Directors.
The transaction has been approved by the Board of Directors of both companies and has received shareholder and regulatory approvals.
Based on most recently reported financials, the combined institution is expected to have approximately $2.3 billion in total assets and 37 banking offices.
Olsen Palmer remains the #2 sell-side bank M&A advisor nationwide – and a top 3 overall bank M&A advisor – based on the number of transactions advised upon since 2020 according to S&P Global.
Download Announcement (PDF).