Eureka Savings Bank, founded in 1885, has acquired Wenona Bancorp, Inc., parent company of Wenona State Bank, founded in 1934, in an all-cash transaction.
Olsen Palmer LLC served as exclusive financial advisor to Eureka Savings Bank.
With the transaction, Eureka Savings Bank has expanded its branch network to five locations. In addition, Eureka’s total assets have increased to approximately $425 million as a result of the combination. President of Wenona State Bank Mike Flahaven has joined Eureka Savings Bank as a Senior Vice President.
Olsen Palmer LLC is the #2 bank M&A advisor nationwide according to S&P Global, as ranked based on the number of whole-bank M&A deals advised upon in 2020.