OLSEN PALMER ADVISES FIRST ALLIANCE BANK IN ITS AGREEMENT TO BE ACQUIRED BY GUARANTY BANK & TRUST COMPANY

Olsen Palmer is pleased to announce that Memphis, Tennessee-based First Alliance Bancshares, Inc. and its banking subsidiary First Alliance Bank, have entered into a definitive agreement to be acquired by Belzoni, Mississippi-based Guaranty Capital Corporation, the holding company for Guaranty Bank & Trust Company, in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First Alliance Bancshares, Inc.

The transaction, which has been approved by the Board of Directors of both companies but remains subject to customary shareholder and regulatory approvals, is expected to be completed in the fourth quarter of 2019.

With the transaction, Guaranty Bank & Trust Company will establish a branch presence in the Tennessee banking market and will have total assets of approximately $1.0 billion and 21 branches across Mississippi and Tennessee.

With this transaction, Olsen Palmer LLC remains ranked as a Top 5 bank M&A advisory firm across the entire United States according to S&P Global, as ranked based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES THE FIRST NATIONAL BANK OF WYNNE IN ITS AGREEMENT TO BE ACQUIRED BY FIRST FINANCIAL BANK

Olsen Palmer is pleased to announce that First National Corporation of Wynne and its banking subsidiary The First National Bank of Wynne (Wynne, AR; $339.7 million in assets) have entered into a definitive agreement to be acquired by First Financial Banc Corporation, holding company for First Financial Bank (El Dorado, AR; $1.1 billion in assets).

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First National Corporation of Wynne.

Upon completion of the transaction, First Financial will have total assets of approximately $1.4 billion and 17 branches across 7 counties in Arkansas and 2 counties in Mississippi. This is First Financial’s first whole-bank acquisition since 2006. 

The closing of the transaction is expected to occur in the fourth quarter of 2019. The purchase is contingent upon the approval of regulatory agencies and the satisfaction of other conditions set forth in the definitive agreement.

With this transaction, Olsen Palmer remains ranked as a Top 5 bank M&A advisor across the entire U.S. according to S&P Global, as ranked based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.

If you would like additional information or have any questions on M&A, valuation, or strategic options please feel free to contact me at 202-627-2043 orcolsen@olsenpalmer.com.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER SPONSORS TENNESSEE BANKERS ASSOCIATION 129TH ANNUAL MEETING

Christopher Olsen, Managing Partner of Olsen Palmer LLC, has been invited to speak at the Tennessee Bankers Association (TBA) 129th Annual Meeting to be held from June 16th to 18th at the Ritz Carlton Orlando in Grand Lakes, Orlando, FL. This will be the 4th consecutive year Mr. Olsen will serve as a speaker at TBA’s Annual Meeting.

In his presentation, “The State of Bank M&A: Market Update, Valuation Trends, and Deal Drivers,” Mr. Olsen will provide an executive summary-style update on the current state of the bank M&A landscape including: transaction volume; deal pricing; geographic implications; and a profile of the ‘typical’ seller and buyer. In so doing, key deal drivers will be examined including operating scale, deposit funding, and public stock valuations. Amidst an active bank M&A environment, this session will provide an update useful to all bankers, whether prospective sellers, would-be buyers, or none of the above.

Olsen Palmer is a proud sponsor of the the 129th Tennessee Bankers Association Annual Meeting.

For more information, please visit https://www.tnbankers.org/calendar/2019/06/16/129th-tba-annual-meeting.3292975

OLSEN PALMER ADVISES FARMERS & MERCHANTS BANK OF ORFORDVILLE IN ITS AGREEMENT TO BE ACQUIRED BY BANK OF BRODHEAD

Olsen Palmer is pleased to announce that Farmers & Merchants Bank of Orfordville (“Farmers & Merchants Bank”) has entered into an Agreement and Plan of Merger to be acquired by Brodhead Bancshares, Inc., parent of The Bank of Brodhead.

Olsen Palmer LLC served as exclusive financial advisor to Farmers & Merchants Bank in connection with this transaction.

Olsen Palmer remains ranked as a Top 5 bank M&A advisory firm according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

The transaction is expected to be completed in the fourth quarter of 2019 pending regulatory and shareholder approvals as well as other customary closing conditions. Brodhead Bancshares, Inc. will be the holding company for both banks following closing of the transaction and it is anticipated that Farmers & Merchants Bank will be merged with and into The Bank of Brodhead at a future date.

Download Transaction Announcement (PDF)