OLSEN PALMER CLIENT FIRST SOUTH BANK HAS BEEN ACQUIRED BY SIMMONS FIRST NATIONAL CORPORATION

Washington, D.C. – Olsen Palmer is pleased to announce that First South Bank (“FSB”) and its parent Hardeman County Investment Company, Inc. (“HCIC”) have been acquired by Simmons First National Corporation (“Simmons”).

Under the terms of the agreement, which was originally entered into by both parties on November 17, 2016, each share of HCIC stock was exchanged for 4.8393 shares of Simmons stock and $181.47 in cash for consideration valued at approximately $76.5 million at the time of the agreement.

The transaction builds on the acquirer’s existing branch presence and complementary business lines including traditional banking, mortgage banking, wealth management and trust, and insurance.

Founded in 1903, First South Bank has total assets of $462 million and operates 10 branches across 4 Tennessee counties. Simmons (NASDAQ: SFNC) is a financial holding company, headquartered in Pine Bluff, Arkansas, with total assets of $8.2 billion and locations in Arkansas, Kansas, Missouri and Tennessee.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to HCIC. Olsen Palmer has now advised on over $600 million in total bank M&A transaction value over the past thirty-six months.

Download Transaction Announcement (PDF) 

About Olsen Palmer LLC                             

Olsen || Palmer is an independent investment banking firm that exclusively advises banks and other financial institutions across the spectrum of Mergers & Acquisitions. By design, advising clients is our only business allowing a truly independent, client-centric approach: nimble, high-touch, and conflict-free.

Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit www.OlsenPalmer.com.

OLSEN PALMER ADVISES DOOLIN SECURITY SAVINGS BANK IN MERGER WITH FIRST MUTUAL HOLDING CO.

Washington, D.C. – Olsen Palmer LLC is pleased to announce that Doolin Security Savings Bank, FSB (“Doolin”) has agreed to affiliate with First Mutual Holding Co. (“FMHC”).

According to terms of the definitive agreement, Doolin (New Martinsville, WV) will combine with FMHC subsidiary Belpre Savings Bank (Belpre, OH). Upon closing, which is expected by the third quarter of 2017 pending approval of regulatory agencies and of voting members of Doolin, the transaction will create a subsidiary bank headquartered in Belpre, Ohio.

Olsen Palmer LLC served as exclusive financial advisor to Doolin Security Savings Bank, FSB.

Olsen Palmer has now advised on over $600mm in total community bank M&A transaction value over the past three years.

For questions or additional information, please feel free to contact 202-627-2043 or colsen@olsenpalmer.com.

Download Transaction Announcement (PDF) 

About Olsen Palmer LLC                             

Olsen || Palmer is an independent investment banking firm that exclusively advises banks and other financial institutions across the spectrum of Mergers & Acquisitions. By design, advising clients is our only business allowing a truly independent, client-centric approach: nimble, high-touch, and conflict-free.

Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit www.OlsenPalmer.com.

CHRISTOPHER OLSEN TO SPEAK AT TENNESSEE BANKERS ASSOCIATION 127TH ANNUAL MEETING

Washington, D.C. –  Christopher Olsen, Managing Partner of Olsen Palmer LLC, has been invited to speak at the Tennessee Bankers Association (TBA) 127th Annual Meeting to be held from June 4th to June 6th 2017 at the Ritz Carlton in Naples, FL. This will be the 2nd time Mr. Olsen will serve as a speaker at TBA’s Annual Meeting.

In his presentation, entitled “M&A Alternatives: Acquire, Be Acquired, or None of the Above,” Mr. Olsen will examine the primary strategic alternatives available to Tennessee community banks, including acquiring, merging, selling, and remaining independent. He will also provide an update on the overall bank M&A environment, including transaction volume, key deal drivers, pricing and valuation trends, and differences across geography. With M&A impacting the entire banking industry, this session will be valuable for all banks, whether they are a would-be acquirer, a potential seller, or none-of-the-above.

The TBA Annual Meeting, now in its 127th year, is a premier annual event for Tennessee bankers and industry partners to gather from across the state.

For a copy of Mr. Olsen’s presentation materials or with any questions, please send an inquiry to info@olsenpalmer.com.

About Olsen Palmer

Olsen || Palmer is a nationally-recognized investment banking firm that specializes in advising financial institutions across Mergers & Acquisitions. By design, we take an independent approach: nimble, high-touch, and conflict-free. Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit our website: www.OlsenPalmer.com.

CHRISTOPHER OLSEN TO SPEAK AT VIRGINIA BANKERS ASSOCIATION 124TH ANNUAL CONVENTION

Washington, D.C. – Christopher Olsen, Managing Partner of Olsen Palmer LLC, has been invited to speak at the Virginia Bankers Association (VBA) 124th Annual Convention to be held from June 18th to June 21st 2017 at The Omni Homestead Resort in Hot Springs, VA. This will be the 2nd time Mr. Olsen will serve as a speaker at VBA’s Annual Convention.

In his presentation, entitled “M&A Alternatives: Acquire, Be Acquired, or None of the Above,” Mr. Olsen will examine the primary strategic alternatives available to Virginia community banks, including acquiring, merging, selling, and remaining independent. He will also provide an update on the overall bank M&A environment, including transaction volume, key deal drivers, pricing and valuation trends, and differences across geography. With M&A impacting the entire banking industry, this session will be valuable for all banks, whether they are a would-be acquirer, a potential seller, or none-of-the-above.

The VBA Annual Convention, now in its 124th year, is a premier annual event for Virginia banks to gather as a united banking industry. Mr. Olsen will host two Breakout Sessions during the event on Monday, June 19th 2017 at 9:45am EST and 10:45am EST.

For a copy of Mr. Olsen’s presentation materials or with any questions, please send an inquiry to info@olsenpalmer.com.

About Olsen Palmer

Olsen || Palmer is a nationally-recognized investment banking firm that specializes in advising financial institutions across Mergers & Acquisitions. By design, we take an independent approach: nimble, high-touch, and conflict-free. Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit our website: www.OlsenPalmer.com.

OLSEN PALMER ADVISES THE CLAYTON BANKS IN AGREEMENT TO BE ACQUIRED BY FIRSTBANK FOR $284.2 MILLION

Washington, D.C. – Olsen Palmer is pleased to announce that Clayton HC, Inc. has entered into an agreement with FirstBank, wholly-owned subsidiary of FB Financial Corporation, pursuant to which FirstBank will acquire Clayton Bank & Trust and American City Bank (collectively “the Clayton Banks”) for approximately $284.2 million.

Olsen Palmer LLC served as exclusive financial advisor to Clayton HC, Inc., parent company of the Clayton Banks.

Under the terms of the agreement, FirstBank will acquire from Clayton HC all of the shares of the Clayton Banks, which will be merged into FirstBank upon closing, for consideration comprised of 5,860,000 shares of common stock (NYSE: FBK), $79.5 million in cash, and $60 million in subordinated debt.

The Clayton Banks – 18 branches, total assets of $1.2 billion – are wholly-owned by Clayton HC, Inc. which is 98% owned by Jim Clayton, Chairman and Chief Executive Officer. FirstBank has $3.2 billion in assets and 45 branches across 3 states.

This deal ranks as the 4th largest bank M&A transaction in the U.S. thus far in 2017 in terms of transaction value, according to SNL Financial.

Olsen Palmer has now advised on over $500 million in aggregate transaction value over the past 18 months and is ranked as a Top 10 bank M&A advisory firm based on aggregate deal value, according to SNL Financial.

Download Transaction Announcement (PDF)

About Olsen Palmer

Olsen || Palmer is an independent investment banking firm that exclusively advises financial institutions across Mergers & Acquisitions. By design, advising clients is our only business allowing us to take an independent, client-centric approach: nimble, high-touch, and conflict-free.

Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit www.OlsenPalmer.com.