Durand Bancorp, Inc., parent company of Durand State Bank, has been acquired by High Point Financial Services, Inc., parent company of Solutions Bank, in an all-cash transaction.
Olsen Palmer LLC served as exclusive financial advisor to Durand Bancorp, Inc.
As a result of the transaction, Solutions Bank now has 7 total branch locations, total assets of approximately $445 million, total deposits of approximately $390 million, and total loans of approximately $205 million based on financial data as of June 30, 2021. Additionally, Solutions Bank’s branch footprint expands into Winnebago County.
Olsen Palmer LLC is one of the top 2 bank M&A advisory firms nationwide according to S&P Global, as ranked by the number of whole-bank sell-side M&A transactions advised upon over the last twelve months in which the seller had assets below $5 billion.