Citizens State Bank, the banking subsidiary of Citizens Southern Bancshares, Inc., has been acquired by Avadian. The transaction was structured as a purchase and assumption transaction and the consideration was all-cash.
Olsen Palmer LLC served as financial advisor to Citizens Southern Bancshares, Inc.
Jones Walker LLP served as legal advisor to Citizens Southern Bancshares, Inc. while Honigman LLP served as legal advisor to Avadian.
Olsen Palmer LLC 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 advised upon over the last three years.