Olsen Palmer Expands M&A Practice with the Addition of Managing Director Preston Simons, Launch of Texas Office

Olsen Palmer Expands M&A Practice with the Addition of Managing Director Preston Simons, Launch of Texas Office

Washington, DC (May 16, 2023) – Olsen Palmer LLC (“Olsen Palmer”) is pleased to announce the hiring of Preston Simons as Managing Director and the corresponding launch of a Dallas office. Mr. Simons will lead the firm’s practice in providing M&A and related strategic advice to community banks in Texas and Oklahoma, including sell-side M&A advisory, buy-side M&A advisory, valuations, fairness opinions, and Board-level assessments of strategic alternatives. This is Olsen Palmer’s 6th office overall – and its 2nd office launched in 2023 – complementing the firm’s headquarters in Washington, DC and existing offices in Birmingham, Chicago, Denver, and Kansas City.

Mr. Simons brings approximately 15 years of experience working with and advising financial institutions. Most recently, Mr. Simons was a Managing Director with Dallas, Texas-based Commerce Street Capital, LLC in the Financial Institutions Group where he advised community banks on sell-side and buy-side M&A transactions, valuations, and capital raises. Over the course of his career, Mr. Simons has advised on over 40 successful M&A transactions and over half a billion dollars in debt and equity issuances. A Texas native, Mr. Simons graduated from The University of Texas at Austin with both a BS in Mathematics and a BBA in Finance.

Christopher Olsen, Olsen Palmer’s Managing Partner, said, “We are very excited about Preston joining the Olsen Palmer team as well as the formal launch of our bank M&A advisory practice in Texas and Oklahoma. To consistently provide the elite M&A and strategic advice that our clients demand and deserve, we hire very selectively. Preston’s expertise and client-first philosophy exceeded our expectations and we are confident he will do the same for clients.” Mr. Olsen continued, “We are also pleased to expand our geographic presence by bringing our thoroughly independent, best-in-class M&A advice and execution to high quality community banks in Texas and Oklahoma.”

“For approximately 15 years I have enjoyed advising banks in transformational decisions to maximize shareholder value in some of the best markets in the country. My decision to join forces with Olsen Palmer afforded the unique opportunity to launch an office and initiate coverage for a nationwide firm that is consistently ranked as a leader in the community bank M&A arena. I’m thrilled to be able to bring the firm’s innovative, proven, and thoughtful approach to community bank investment banking to my home state of Texas and to Oklahoma,” said Mr. Simons. “I look forward to continuing to build lasting relationships and to helping banks reach their strategic aspirations with the resources and reputation of Olsen Palmer behind me.”

For more information regarding the new Dallas office, contact Preston Simons, at 214-396-8972 or psimons@olsenpalmer.com.

About Olsen Palmer

Olsen Palmer LLC is an independent investment banking firm that exclusively advises community banks across the spectrum of Mergers & Acquisitions. By design, Olsen Palmer combines the M&A expertise of a traditional investment banking firm with the agility, responsiveness, and lack of conflicts of an independent firm. Specializing in sell-side and buy-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 Advisors Hold Top Rankings

Olsen Palmer is pleased to report that our professionals were once again the leading bank M&A advisors in 2022 according to data from S&P Global. Managing Partner Christopher Olsen was the #1 ranked individual bank M&A advisor nationwide – for the 4th straight year – while each of the top 3-ranked advisors and 4 of the top 15 advisors were Olsen Palmer professionals.

Additionally, Olsen Palmer was one of the top-ranked bank M&A advisors across the U.S. in 2022 based on the number of whole-bank M&A transactions upon which we advised while, among those transactions in which the seller had total assets of $1 billion or less, Olsen Palmer was the #1 sell-side bank M&A advisor nationwide in 2022.

“Olsen Palmer is the elite bank M&A investment banking firm in the industry and the only nationally-recognized firm that specializes solely in bank M&A. As a result, we deliver best-in-class advice and execution that fully maximizes our client’s value and minimizes their risks. In so doing, we are unencumbered by actual or potential conflicts that offering ancillary products and services may otherwise give rise to,” said Christopher Olsen, the firm’s Managing Partner.

Christopher continued, “These rankings squarely reflect the value of our specialization and the caliber of our team while confirming our consistent ability to help our clients fully realize their M&A objectives across ever-changing market conditions. We are privileged to work with and for exceptional community bankers and directors who value our thoughtful advice and our unique model that combines the full M&A advisory expertise of a traditional investment banking firm with the agility, lack of conflicts, and senior-level responsiveness of an independent firm.”

For additional information or with any questions on bank M&A conditions, valuation, or strategic options please feel free to contact Olsen Palmer at 202-808-3306 or info@olsenpalmer.com.

About Olsen Palmer

Olsen Palmer LLC is a nationally-recognized independent investment banking firm that exclusively advises community banks across the spectrum of Mergers & Acquisitions. By design, Olsen Palmer combines the same M&A expertise of a traditional investment banking firm with the agility, responsiveness, and lack of conflicts of an independent firm – specializing in sell-side and buy-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

CHRISTOPHER OLSEN SPEAKS AT BANK DIRECTOR'S "2023 ACQUIRE OR BE ACQUIRED" CONFERENCE

Olsen Palmer LLC is pleased to announce that Managing Partner Christopher Olsen was a featured speaker at Bank Director’s Acquire or Be Acquired Conference held January 29 - 31, 2023 in Scottsdale, Arizona. Mr. Olsen moderated a ‘fireside chat’ with George Makris, Executive Chairman of Simmons Bank and Kurt Knutson, Founder at Freedom Bank.

During the session Olsen, Makris, and Knutson discussed key findings and best practices across the M&A spectrum applicable to sellers and buyers alike. For prospective sellers, Mr. Knutson shared his thoughts on lesons learned through his experience selling his bank in 2021. For would-be buyers, Mr. Makris shared perspectives on best practices, areas of value creation, and key risks in bank acquisitions.

The Acquire or Be Acquired Conference is a premier annual event attended by over 1,300 Bank Executives and Board Members that brings together key thought leaders from across the country to explore and discuss bank merger & acquisition strategies and related growth opportunities.

About Olsen Palmer LLC

Olsen Palmer is an independent investment banking firm that exclusively advises financial institutions across the spectrum of Mergers & Acquisitions out of our headquarters in Washington DC and regional offices in Chicago, Denver, and Birmingham. By design, we combine the extensive M&A expertise of a traditional diversified firm with the agility, innovation, and independence of a specialized firm. Olsen Palmer remains a top bank M&A advisory firms nationwide according to S&P Global as ranked by the cumulative number of bank M&A transactions advised upon.

Olsen Palmer Launches Kansas City Office, Expanding Bank M&A Advisory Practice

Olsen Palmer Launches Kansas City Office, Expanding Bank M&A Advisory Practice

Washington, DC (February 2, 2023) – Olsen Palmer is pleased to announce the launch of a Kansas City office to support the firm’s active and growing bank M&A advisory practice in the region. The office will be led by Frank Berndt, Managing Director, who will lead the firm’s efforts in Kansas and Missouri including sell-side M&A advisory, buy-side M&A advisory, valuations, fairness opinions, and Board-level assessments of strategic alternatives. This is Olsen Palmer’s 5th office, complementing the firm’s headquarters in Washington D.C. and existing offices in Chicago, Denver, and Birmingham.

Mr. Berndt brings almost 20 years of experience working with or advising financial institutions, has advised on more than 50 bank M&A transactions throughout his career, and is the #2 ranked individual bank M&A advisor nationwide according to S&P Global, based on the number of transactions he has advised on since 2019. Prior to joining Olsen Palmer in 2017, Mr. Berndt worked as both a commercial lender and VP within the commercial credit department at BB&T (now Truist) as well as in the Financial Institutions Group of Morgan Stanley’s investment banking division. Mr. Berndt earned a Bachelor of Business Administration, with a double major in finance and international business, from James Madison University, and a Master of Business Administration from the University of North Carolina. He is licensed with the Financial Industry Regulatory Authority as an Investment Banking Representative and a Uniform Securities Agent.

Christopher Olsen, Managing Partner of Olsen Palmer, said, “We are very excited about the launch of our Kansas City office. As we are already one of the nation’s leading M&A advisors to community banks in the Midwest, an additional office in the region was a natural decision and one that reflects Olsen Palmer’s strategic commitment to providing best-in-class strategic and M&A advice to community banks in Kansas and Missouri.” Mr. Olsen continued, “Frank is a fantastic investment banker that has a rare ability to listen to and truly understand client preferences and, from there, help them get where they want to go. We look forward to a greater number of banks benefitting from Frank’s guidance.”

“I am excited for the opportunity to continue working with bankers throughout Kansas and Missouri. It has been my experience that bankers in the area are looking for honest, straight-forward advice from advisors who value relationships rather than transactions, which directly aligns with Olsen Palmer’s unique, relationship-based approach,” said Mr. Berndt. “I am very much looking forward to building long-lasting relationships and helping banks realize their strategic goals.”

For more information regarding the new Kansas City office, contact Olsen Palmer Director of Marketing, Jessica Dominguez, at 202-240-1260 or jdominguez@olsenpalmer.com.

About Olsen Palmer

Olsen Palmer LLC is a nationally-recognized independent investment banking firm that exclusively advises community banks across the spectrum of Mergers & Acquisitions. By design, Olsen Palmer combines the same M&A expertise of a traditional investment banking firm with the agility, responsiveness, and lack of conflicts of an independent firm – specializing in sell-side and buy-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

Olsen Palmer Advises First Bank in its agreement to be acquired by Alabama One Credit Union

First Bank, a wholly-owned subsidiary of Peoples Independent Bancshares, Inc., and Alabama ONE Credit Union announced that Alabama ONE will acquire most of the assets and assume most of the liabilities of First Bank. The transaction will be structured as a purchase and assumption transaction, and the consideration will be all-cash. Other financial terms were not disclosed.

Olsen Palmer LLC served as financial advisor to Peoples Independent Bancshares, Inc.

The transaction, which has been unanimously approved by the Board of Directors of both institutions but remains subject to customary conditions including the approval of First Bank’s shareholder and the receipt of required regulatory approvals, is expected to close no later than the second quarter of 2023. Following consummation of the transaction, Peoples Independent Bancshares, Inc. and its other wholly-owned banking subsidiary, Peoples Independent Bank, will continue normal operations as ongoing entities.

First Bank is a full-service community bank with total assets of approximately $130 million. Following consummation of the transaction with First Bank, Alabama ONE will have total assets of approximately $1.1 billion and 23 branches across Alabama.

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)