OLSEN PALMER ADVISES ARLINGTON STATE BANC HOLDING COMPANY IN ITS SALE TO FIRST STATE FREMONT

Two Rivers Bank, banking subsidiary of Arlington State Banc Holding Company, has been acquired by First State Fremont, the holding company for First State Bank & Trust Co.

Olsen Palmer LLC served as exclusive financial advisor to the Board of Arlington State Banc Holding Company in connection with this transaction.

Founded in 1890, Two Rivers Bank had two branches and total assets of approximately $146 million as of September 30, 2021, while First State Bank & Trust Co., founded in 1956, had four branches and total assets of approximately $289 million as of September 30, 2021.

As a result of the transaction, the combined company now has six branches and total assets in excess of $430 million based on financial information as of September 30, 2021. 

Olsen Palmer LLC is 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 RANKED THE #1 BANK M&A ADVISORY FIRM

Olsen Palmer is pleased to announce the firm has been ranked as the #1 community bank M&A advisory firm nationwide according to S&P Global, based on the total number of community bank whole-bank sell-side M&A transactions advised upon since January 1, 2020.

“We are equally humbled and pleased by this ranking as it confirms our consistent ability to help our clients realize their strategic objectives across changing market conditions,” said Managing Partner Christopher Olsen. “We intentionally operate a unique model that combines the full M&A advisory expertise of a traditional investment banking firm with the agility, creativity, and independence of a specialized firm. We are privileged to work with and for exceptional community bank managers and directors who value this approach and our thoughtful advice.”

Please feel free to contact us if you have any questions, would like additional information, or would like to discuss M&A conditions, valuation, strategic options, or a potential transaction.

OLSEN PALMER ADVISES LEGACY BANK IN ITS SALE TO INBANK IN A TRANSACTION VALUED AT APPROXIMATELY $77.2 MILLION

Denver, Colorado-based InBankshares, Corp (OTCQX: INBC) (the “Company” or “INBC”) and Wiley, Colorado-based Legacy Bank (“Legacy”) announced today that they entered into a definitive merger agreement pursuant to which Legacy will merge with and into InBank, the wholly-owned subsidiary of INBC, in a transaction valued at approximately $77.2 million, based on INBC’s closing common stock price of $9.75 per share on November 29, 2021, subject to certain adjustments as described in the merger agreement. 

Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to Legacy Bank.

Under the terms of the merger agreement, which has been unanimously approved by the board of directors of INBC and Legacy, INBC will issue 3,566,387 shares of INBC common stock and pay $21.25 million in cash to the shareholders of Legacy Bank in the aggregate. Additionally, prior to the closing of the transaction, Legacy will distribute to its shareholders other real estate owned (OREO) and other assets and will pay its shareholders a special cash dividend. 

The merger is subject to approval by federal and state bank regulators and the Legacy shareholders and to customary closing conditions. The transaction is expected to close early in the second quarter of 2022, with a systems conversion planned for late third quarter of 2022.

Founded in 1907, Legacy operates 9 branches and has approximately $497 million in total assets, $316 million in gross loans and $426 million in deposits 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 ADVISES WESTERN STATES BANCORPRATION IN ITS AGREEMENT TO BE ACQUIRED BY FIRST NATIONAL BANK OF OMAHA AND ITS PARENT COMPANY

Western States BanCorporation (“Western States”) and its wholly-owned subsidiary Western States Bank, headquartered in Laramie, Wyoming, today announced that it has entered into a definitive agreement to be 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 and issued a fairness opinion to Western States BanCorporation.

The proposed transaction, FNBO’s first announced whole-bank acquisition in almost 15 years, is subject to customary regulatory approvals, the approval of Western States’ shareholders, and the completion of various closing conditions and is anticipated to close in the first quarter of 2022.

FNBO is the primary banking subsidiary of First National of Nebraska which has $25 billion in assets and nearly 100 locations in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

Western States, founded in 2006, has $542 million in total assets and 10 branch locations located in Southeast Wyoming, Northeast Colorado and the Panhandle of Nebraska.

Olsen Palmer LLC remains one of the top 3 bank M&A advisory firms nationwide while Managing Partner Christopher Olsen remains the #1 individual bank M&A advisor 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 SPONSORS OLE MISS BUSINESS 20TH ANNUAL BANKING & FINANCE SYMPOSIUM

Olsen Palmer is pleased to sponsor the 20th Ole Miss Business Annual Banking & Finance Symposium to be held at the Oxford Conference Center in Oxford, Mississippi on November 12, 2021.

For more information, please visit https://olemissalumniassociation.regfox.com/2021-banking-and-finance-symposium