Minier Financial, Inc., parent company of First Farmers State Bank and Pontiac Bancorp, Inc., parent company of Bank of Pontiac, jointly announced their entry into a Purchase Agreement whereby Pontiac Bancorp will acquire First Farmers State Bank.
Olsen Palmer LLC served as exclusive financial advisor to First Farmers State Bank and its parent company.
The transaction, which is subject to customary regulatory approvals and approval of Minier Financial, Inc. shareholders, is expected to close in Q1 of 2021.
Upon completion of the proposed transaction, Bank of Pontiac will have 11 branches and is projected to have total assets of approximately $800 million.
Olsen Palmer is the #2 bank M&A advisor nationwide according to S&P Global, based on number of whole-bank M&A deals advised upon in 2020 year-to-date.