PBT Bancshares, Inc., the holding company of Peoples Bank and Trust Company, and KANZA Financial Corporation, the holding company of KANZA Bank, have jointly announced today that PBT Bancshares, Inc. has acquired KANZA Bank.
Olsen Palmer LLC served as financial advisor to PBT Bancshares, Inc.
With the closing of the transaction, KANZA Bank will be merged with and into Peoples Bank and Trust Company with Peoples Bank and Trust Company as the surviving entity. Based on the most recent reported financials, the combined institution has approximately $1.5 billion in total assets and 21 banking offices.
Olsen Palmer is a top 3 bank M&A advisor – and the #2 sell-side advisor – based on the number of transactions advised since January 1, 2020 according to S&P Global.