Landmark Community Bank, has been acquired by Simmons First National Corporation for stock and cash consideration valued at approximately $146.0 million.
Olsen Palmer LLC served as exclusive financial advisor to Landmark Community Bank.
As a result of the transaction, the combined franchise now has total assets of approximately $24.4 billion, total deposits of approximately $19.1 billion and total loans of approximately $12.2 billion.
Along with a separate definitive agreement entered into on the same day, Simmons estimated the proposed transactions, on a combined basis, to be approximately 7.5% accretive to earnings per share in 2022 excluding one-time transaction expenses and slightly accretive to tanglible book value per share including the impact of one-time transaction expenses and CECL “day two” accounting.
Olsen Palmer LLC is the #1 community bank M&A advisor 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 of $5 billion or less.