OLSEN PALMER ADVISES TRI-STATE BANK OF MEMPHIS IN ITS SALE TO LIBERTY BANK

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.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES LANDMARK COMMUNITY BANK IN ITS SALE TO SIMMONS FIRST NATIONAL CORPORATION

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.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES MACKINAW VALLEY FINANCIAL SERVICES, INC. IN ITS SALE TO FIRST BANCORP OF TAYLORVILLE, INC.

Mackinaw Valley Financial Services, Inc., parent company of First Security Bank, founded in 1907, has been acquired by First Bancorp of Taylorville, Inc., parent company of First National Bank in Taylorville, founded in 1956.

Olsen Palmer LLC served as exclusive financial advisor to Mackinaw Valley Financial Services, Inc.

As a result of the transaction, the combined franchise now has total assets of approximately $332.8 million, deposits of approximately $267.9 million, and loans of approximately $146.7 million as of June 30, 2021.

Godfrey & Kahn, S.C. served as legal advisor to Mackinaw Valley Financial Services, Inc. while Baker, Donelson, Bearman, Caldwell & Berkowitz, PC served as legal counsel to First Bancorp of Taylorville, Inc.

Olsen Palmer LLC is one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the number of whole-bank M&A transactions advised upon over the last twelve months.

Transaction Announcement (PDF)

OLSEN PALMER ADVISES ARLINGTON STATE BANC HOLDING COMPANY IN ITS AGREEMENT TO BE ACQUIRED BY FIRST STATE FREMONT, INC.

First State Fremont, Inc. the holding company for First State Bank & Trust Company, has entered into an agreement to acquire Two Rivers Bank, banking subsidiary of Arlington State Banc Holding Company. The transaction is anticipated to close in the fourth quarter of 2021, subject to regulatory approval.

Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to the Board of Arlington State Banc Holding Company in connection with this transaction.

Founded in 1890, Two Rivers Bank has two branches and total assets of approximately $148 million as of June 30, 2021, while First State Bank & Trust Co., founded in 1956, has four branches and total assets of approximately $288 million as of June 30, 2021.

Olsen Palmer LLC is one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the number of whole-bank M&A transactions advised upon over the last twelve months.

Transaction Announcement (PDF)

OLSEN PALMER ADVISES CUMBERLAND BANCSHARES, INC. ON ITS SALE TO FIRST PARAGOULD BANKSHARES, INC.

Cumberland Bancshares, Inc., parent company of Citizens Bank ($291 million in assets), has been acquired by First Paragould Bankshares, Inc., parent company of First National Bank ($1.9 billion in assets).

Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to Cumberland    Bancshares, Inc.

As a result of the transaction, the combined franchise now has assets of approximately $2.1 billion, deposits of $1.8 billion, and loans of approximately $1.7 billion as of June 30, 2021.

Fenimore, Kay, Harrison & Ford, LLP served as First Paragould Bankshares, Inc.’s legal advisor, while the firm of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC served as Cumberland Bancshares, Inc.’s legal advisor.

Olsen Palmer LLC is one of the top 3 bank M&A advisory firms nationwide according to S&P Global, as ranked by the number of whole-bank M&A transactions advised upon in the twelve-month period ended August 31, 2021.

Transaction Announcement (PDF)