First State Fremont, Inc. the holding company for First State Bank & Trust Company, has entered into an agreement to acquire Two Rivers Bank, banking subsidiary of Arlington State Banc Holding Company. The transaction is anticipated to close in the fourth quarter of 2021, subject to regulatory approval.
Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to the Board of Arlington State Banc Holding Company in connection with this transaction.
Founded in 1890, Two Rivers Bank has two branches and total assets of approximately $148 million as of June 30, 2021, while First State Bank & Trust Co., founded in 1956, has four branches and total assets of approximately $288 million as of June 30, 2021.
Olsen Palmer LLC is one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the number of whole-bank M&A transactions advised upon over the last twelve months.