Tri-State Bank (“Tri-State”) and Liberty Bank and Trust Company and its parent holding company, Liberty Financial Services, Inc. (collectively, “Liberty”), completed their agreement whereby Tri-State has been acquired by Liberty in an all-cash transaction.
Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to the Board of Directors of Tri-State Bank in connection with this transaction.
Both Liberty and Tri-State are Minority Depository Institutions as defined by the Federal Deposit Insurance Corporation. With the transaction, Liberty has approximately $1 billion in proforma assets and offices in 12 cities based on information as of June 30 ,2021.
Olsen Palmer LLC remains one of the top 3 bank M&A advisory firms nationwide while Managing Partner Christopher Olsen remains the #1 individual advisor across the U.S. according to S&P Global , as ranked by the total number of whole-bank M&A transactions advised upon since 2019.