Olsen Palmer Advises Catlin Bank in its Agreement to be Acquired by The Fisher National Bank

Butler Point, Inc., the holding company of Catlin Bank (together “Catlin”), and Fisher Bancorp Inc. (“Fisher”), parent of The Fisher National Bank, jointly announced that they have entered into an agreement and plan of merger whereby Fisher will acquire Catlin, subject to customary regulatory and other approvals.

Olsen Palmer LLC served as financial advisor to Butler Point, Inc. in conjunction with this transaction.

Upon consummation of the proposed transaction, on a pro forma basis, Fisher will have five full-service banking branches and total assets of approximately $293 million, based on data as of June 30, 2022. The acquisition is expected to be completed in the first quarter of 2023. Jeff Fauver, current President of Catlin Bank, will be the Catlin Community President along with being on the Board of Directors for Fisher National Bank.

Olsen Palmer LLC served as financial advisor to Catlin Bank while Godfrey Kahn, S.C. served as legal advisor. Brown, Hay & Stephens, LLP served as the legal advisor to Fisher Bancorp, Inc.

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. This is the 44th announced or completed bank M&A transaction Olsen Palmer has advised upon over the past 2 years.

Transaction Announcement (PDF)

Olsen Palmer Advises Freedom Bank in its Sale to Landmark National Bank

Freedom Bancshares, Inc. (“Freedom”), the holding company of Freedom Bank, announced that it has been acquired by Landmark Bancorp, Inc. (“Landmark”), the holding company of Landmark National Bank, for cash consideration of $33.350 million.

Olsen Palmer LLC served as financial advisor to Freedom Bancshares, Inc. in connection with this transaction.

Freedom was founded in 2006 and operated out of a single location in Overland Park, Kansas. As a result of the merger, which was completed prior to the opening of business on October 1, 2022, Landmark now has total assets of approximately $1.5 billion and total deposits of approximately $1.3 billion with 31 branches. The combined company is operating under the name “Landmark Bancorp, Inc.” and will continue to list its common stock on the Nasdaq Global Select Market and trade under the symbol LARK.

Olsen Palmer 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.

Transaction Announcement (PDF)

Olsen Palmer Advises First Bank of Alabama in its Acquisition of 2 Branches from Southern States Bank

First Bank of Alabama (“FBA”), subsidiary of Firstbanc of Alabama, Inc. and Southern States Bank (“Southern States”), subsidiary of Southern States Bancshares, Inc. (NASDAQGS: SSBK) announced that FBA has acquired the physical locations and most of the loan and deposit accounts associated with 2 of Southern States’ branches.

Olsen Palmer LLC served as financial advisor to Firstbanc of Alabama Inc.

With the completion of the transaction, FBA has total assets of approximately $930 million and twelve full-service branch 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 over the last three years.

Transaction Announcement (PDF)

Olsen Palmer Advises BankFirst Capital Corporation in its Acquisition of Sycamore Bank

BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent of BankFirst Financial Services, today announced the completion of its acquisition of Tate Financial Corporation (“Tate”), and its wholly-owned banking subsidiary, Sycamore Bank.

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

The acquisition results in BankFirst having 38 offices serving Mississippi and Alabama, with total assets of approximately $2.5 billion, gross loans of approximately $1.4 billion, and total deposits of approximately $2.1 billion. Jay Tindall, Jr., Sycamore Bank's Chairman and Chief Executive Officer, has joined the Bank as a Regional Executive.

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

Transaction Announcement (PDF)

Olsen Palmer Advises Mechanics Bank in its Agreement to be Acquired by BankFirst Capital Corporation

Mechanics Banc Holding Company (“Mechanics”), the parent company of Mechanics Bank, today announced the signing of a definitive merger agreement with BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent of BankFirst Financial Services, under which BankFirst will acquire Mechanics and Mechanics Bank for all-cash consideration.

Olsen Palmer LLC served as financial advisor to Mechanics Bank Holding Company in connection with this transaction.

The transaction has been approved by the board of directors of each company, is expected to close in the first quarter of 2023, and is subject to customary closing conditions, including approval from the shareholders of Mechanics and bank regulatory authorities.

Founded in 1892, Mechanics Bank has six banking offices and approximately $331 million in total assets as of June 30, 2022.

After the merger is completed, and assuming the completion of an unrelated previously-announced transaction, BankFirst is expected to have 42 offices and have assets in excess of $2.7 billion.

Olsen Palmer 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 the firm has advised upon over the last three years.

Transaction Announcement (PDF)