OLSEN PALMER ADVISES WESTERN STATES BANCORPORATION IN ITS SALE TO FIRST NATIONAL BANK OF OMAHA

Western States BanCorporation (“Western States”) and its wholly-owned subsidiary Western States Bank, headquartered in Laramie, Wyoming, has been acquired by Omaha, Nebraska-based First National of Nebraska and its subsidiary First National Bank of Omaha (“FNBO”). 

Olsen Palmer LLC served as exclusive financial advisor to Western States BanCorporation.

With this transaction – FNBO’s first whole-bank acquisition in almost 15 years – FNBO adds Western States’ nearly $550 million in total assets and expands its footprint to 8 states throughout the Midwest and West, adding 10 locations across Northeastern Colorado, Western Nebraska, and Eastern Wyoming. FNBO has greater than $25 billion in assets and nearly 100 locations.

Olsen Palmer LLC remains one of the top 3 bank M&A advisory firms nationwide according to S&P Global based on the total number of bank M&A transactions advised upon over the past three years.

Transaction Announcement (PDF)

OLSEN PALMER ADVISES BANKERS CAPITAL CORPORATION IN AGEEMENT TO BE ACQUIRED BY BANNER COUNTY BAN CORPORATION

Harrisburg, Nebraska based Banner County Ban Corporation, the holding company of Banner Capital Bank (together “Banner”), and Lusk, Wyoming based Bankers Capital Corporation, the holding company of Lusk State Bank (together “Lusk”), jointly announced today that they have entered into a stock purchase agreement whereby Banner will acquire Lusk subject to customary regulatory and other approvals.

Olsen Palmer LLC served as exclusive financial advisor to Bankers Capital Corporation.

Upon consummation of the proposed transaction, Banner will enhance its existing presence within the state of Wyoming via Lusk State Bank’s location in Niobrara County. After the acquisition, Lusk State Bank will continue to operate as an independent community bank. On a pro forma basis, Banner County Ban Corporation’s two banks will have 6 full-service banking branches and total assets of approximately $296 million, based data as of December 31, 2021.

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 bank M&A transactions advised upon since 2019.

Transaction Announcement (PDF)

OLSEN PALMER ADVISES BANKFIRST CAPITAL CORPORATION IN ITS ACQUISITION OF THE CITIZENS BANK OF FAYETTE

BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst” or the “Company”), parent of BankFirst Financial Services (the “Bank”), has completed its acquisition of The Citizens Bank of Fayette (“Citizens Bank”) from F.B.H. Corporation (“F.B.H.”).

Olsen Palmer LLC served as exclusive financial advisor to BankFirst Capital Corporation.

As a result of the transaction, BankFirst now has 32 offices with total assets of approximately $2.0 billion, gross loans of approximately $1.2 billion, and total deposits of approximately $1.8 billion. Robert D. Mills, Citizens Bank's President and Chief Executive Officer, has joined the Bank as Fayette Regional Executive

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 since 2019.

Transaction Announcement (PDF)

OLSEN PALMER ADVISES FIRST CAPITAL BANK IN ITS SALE TO PLANTERS BANK & TRUST COMPANY

Germantown Capital Corporation, Inc. parent of First Capital Bank, together “First Capital”, has been acquired by Planters Holding Company, parent of Planters Bank & Trust Company.

Olsen Palmer LLC served as exclusive financial advisor to Germantown Capital Corporation, Inc.

Originally established in 2003, First Capital Bank had total assets of approximately $380 million, deposits of approximately $315 million, and loans of approximately $300 million as of September 30, 2021.

As a result of the transaction, Planters Bank & Trust Company now has total assets in excess of $1.7 billion, deposits of approximately $1.5 billion, loans of approximately $875 million, and 20 branches as of September 30, 2021.

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 since 2019.

Transaction Announcement (PDF)

OLSEN PALMER ADVISED CITIZENS STATE BANK AND ITS PARENT COMPANY IN AGREEMENT TO BE ACQUIRED BY AVADIAN

Citizens State Bank, the banking subsidiary of Citizens Southern Bancshares, Inc., has entered into an agreement to be acquired by Avadian. The transaction is structured as a purchase and assumption transaction and the consideration is all-cash.

Olsen Palmer LLC served as exclusive financial advisor to Citizens Southern Bancshares, Inc.

The transaction, which has been unanimously approved by the Board of Directors of both institutions but remains subject to customary conditions including the approval of Citizens Southern Bancshares, Inc.’s shareholders and the receipt of required regulatory approvals, is expected to close no later than the third quarter of 2022.

Upon completion of the merger, Avadian will have total assets of approximately $1.2 billion and 21 locations.

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 since 2019.

Transaction Announcement (PDF)