Olsen Palmer Advises FirstBank Financial Services in its Agreement to Acquire Sycamore Bank

BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent of BankFirst Financial Services, today announced the signing of a definitive merger agreement with Tate Financial Corporation (“Tate”), the parent company of  Sycamore Bank, under which BankFirst will acquire Sycamore Bank and its parent holding company.

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

The transaction has been approved by the board of directors of each company, is expected to close in the third quarter of 2022, and is subject to customary closing conditions, including approval from the shareholders of Tate and bank regulatory authorities.

After the merger is completed, BankFirst will have 41 locations and assets in excess of $2.5 billion.

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 Sponsors the Tennessee Bankers Association's 132nd Annual Meeting

Olsen Palmer is pleased to return to the Tennessee Bankers Association Annual Meeting as a Platinum Sponsor. The event, which is taking place June 12-14, 2022 at The Broadmoor in Colorado Springs, brings together bankers from across Tennessee for 3 days of education and networking.

More information about the Tennessee Bankers Association and their Annual Meeting can be found at https://tnbankers.org/event/132nd-annual-meeting/.

Olsen Palmer Advises Pioneer State Bank in its Agreement to be Acquired by NuMark Credit Union

NuMark Credit Union (“NuMark”) and Pioneer State Bank (“Pioneer”) jointly announced that they have entered into an agreement whereby NuMark will purchase substantially all of the assets and liabilities of Pioneer, a wholly-owned subsidiary of NBE Bancshares, Inc., in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor to NBE Bancshares, Inc.

The transaction, subject to regulatory and Pioneer shareholder approvals, has been unanimously approved by the board of directors of both organizations and is expected to close in the fourth quarter of 2022.

When the merger is completed, NuMark will have $759 million in assets with a total of 13 branches.

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 First Bank of Alabama in its Agreement to Acquire 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 today that they have entered into an agreement whereby FBA will acquire the physical locations and most of the loan and deposit accounts associated with 2 of Southern States’ branches.

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

The proposed transaction is subject to customary closing conditions as well as approval by applicable bank regulatory authorities. It is expected to be completed in the second half of 2022.

Following completion of the transaction, FBA will have total assets in excess of $920 million and will have 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 Lusk State Bank in its Sale to Banner Capital Bank

Harrisburg, Nebraska based Banner County Ban Corporation, the holding company of Banner Capital Bank (together “Banner”), and Lusk, Wyoming based Bankers Capital Corporation, the holding company of Lusk State Bank (together “Lusk”), have completed a stock purchase agreement whereby Banner acquired Lusk.

Olsen Palmer LLC served as exclusive financial advisor to Bankers Capital Corporation.

With the acquisition, Banner has enhanced its existing presence within the state of Wyoming via Lusk State Bank’s location in Niobrara County. On a pro forma basis, Banner County Ban Corporation will have 6 full-service banking branches and total assets of approximately $296 million. Spierer, Woodward, Corbalis, & Goldberg served as legal advisor to Lusk while Koley Jessen P.C., LLO served as legal advisor to Banner.

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.

Transaction Announcement (PDF)