OLSEN PALMER ADVISED NORTHSIDE BANCSHARES, INC. IN ITS MERGER WITH FIRST CHATSWORTH BANKSHARES, INC.

Olsen Palmer is pleased to announce that NorthSide Bancshares, Inc. (“NBI”), parent of NorthSide Bank (“NorthSide”), and First Chatsworth Bankshares, Inc. (“FCBI”), parent of First National Community Bank (“FNCB”), have merged in an all-stock transaction

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

The combined organization, which operates as First National Community Bank, now has approximately $300 million in assets, $250 million in deposits, 7 branches across 4 Georgia counties, and a loan production office in Chattanooga, Tennessee.

Olsen Palmer LLC remains ranked as a top 3 bank M&A advisor across the entire United States according to SNL Financial/S&P Global, 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 or colsen@olsenpalmer.com.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES THE POPLAR GROVE STATE BANK IN ITS AGREEMENT TO BE ACQUIRED BY FORRESTON STATE BANK

Olsen Palmer is pleased to announce that The Poplar Grove State Bank has entered into a definitive agreement to be acquired by High Point Financial Services, Inc., holding company for Forreston State Bank, in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor to The Poplar Grove State Bank.

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

With this transaction, Olsen Palmer is ranked as a Top 3 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.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES THE UNION BANK IN ITS AGREEMENT TO BE ACQUIRED BY FIRST GUARANTY BANK

Olsen Palmer is pleased to announce that Union Bancshares, Incorporated (“Union”) and its wholly owned subsidiary The Union Bank (Marksville, Louisiana) have entered into a definitive agreement to be acquired by First Guaranty Bancshares, Inc. (“First Guaranty”; NASDAQ: FGBI), holding company for First Guaranty Bank (Hammond, Louisiana). According to the terms of the agreement, First Guaranty will acquire all of the outstanding common stock of Union in a 100% cash transaction valued at approximately $43 million.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to Union Bancshares, Incorporated.

Founded in 1910, Union operates 7 branches in Louisiana and has total assets of $261.4 million. Upon completion of the transaction, First Guaranty is projected to have total assets in excess of $2.1 billion and 33 branches across 9 parishes in Louisiana and 5 counties in Texas.

Completion of this transaction is expected in late fourth quarter of 2019 and is subject to certain closing conditions, including Union stockholder approval and customary regulatory approvals. After closing, Union and its subsidiary The Union Bank will fully merge into First Guaranty.

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 or colsen@olsenpalmer.com.

TRANSACTION ANNOUNCEMENT (PDF)

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)