NuMark Credit Union (“NuMark”) and Pioneer State Bank (“Pioneer”) jointly announced that they have entered into an agreement whereby NuMark will purchase substantially all of the assets and liabilities of Pioneer, a wholly-owned subsidiary of NBE Bancshares, Inc., in an all-cash transaction.
Olsen Palmer LLC served as exclusive financial advisor to NBE Bancshares, Inc.
The transaction, subject to regulatory and Pioneer shareholder approvals, has been unanimously approved by the board of directors of both organizations and is expected to close in the fourth quarter of 2022.
When the merger is completed, NuMark will have $759 million in assets with a total of 13 branches.
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.