Olsen Palmer is pleased to announce that Union Bancshares, Incorporated and its wholly-owned subsidiary The Union Bank (Marksville, LA) have been acquired by First Guaranty Bancshares, Inc. (NASDAQ: FGBI), the holding company for First Guaranty Bank (Hammond, LA), in an all-cash transaction valued at approximately $43.4 million, equivalent to a price-to-tangible book multiple of approximately 1.54x.
Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to Union Bancshares, Incorporated.
Founded in 1910, The Union Bank had total assets of approximately $260 million and operated 7 branches. With this transaction, First Guaranty Bank now has total assets of approximately $2.1 billion and 33 branches across Louisiana and Texas.
This is the 3rd whole-bank M&A transaction completed over the past week upon which Olsen Palmer served as advisor.
Olsen Palmer LLC remains a Top 5-ranked bank M&A advisor across the entire U.S. according to S&P Global, based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.