Boundary Waters Bank announced it has been acquired by Highland Bancshares, Inc., parent holding company of Highland Bank.
Olsen Palmer LLC served as financial advisor to Boundary Waters Bank in connection with this transaction.
Boundary Waters Bank, chartered in 1999, serves the communities of Ely, in northeastern Minnesota, and the Twin Cities metro communities of Blaine and Woodbury.
Founded in 1943, Highland Bank serves the communities of St. Michael, Maple Grove, Minnetonka, Bloomington and St Paul. With the addition of the three branches, Highland will operate eight locations in Minnesota and hold approximately $750 million in assets.
Olsen Palmer remains one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the total number of whole-bank M&A transactions the firm has advised upon over the last three years while the firm’s Managing Partner Christopher Olsen is the #1 individual bank M&A advisor nationwide over the same period, according to S&P Global.