Olsen Palmer Advises SENB Bank in its agreement to be acquired by CBI Bank & Trust

McLaughlin Holding Company, parent company of SENB Bank, and Central Bancshares, Inc., parent company of CBI Bank & Trust have jointly announced the signing of an Agreement and Plan of Merger whereby Central Bancshares will acquire McLaughlin Holding Company and merge SENB Bank into CBI Bank & Trust.

Olsen Palmer LLC served as financial advisor to McLaughlin Holding Company.

The transaction is subject to shareholder and regulatory approval and is anticipated to be completed in the third quarter of 2023.

SENB Bank was organized in 1961 and has total assets of approximately $337 million. After the completion of the transaction, Central Bancshares will have total assets in excess of $1.45 billion.

Olsen Palmer was one of the top-ranked bank M&A advisors nationwide in 2022 according to S&P Global 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.

Transaction Announcement (PDF)

Olsen Palmer Advises SunSouth Bank in its agreement to be acquired by All In Credit Union

SunSouth Bank, the banking subsidiary of SunSouth Bancshares, Inc. announced that it has entered into an agreement to be acquired by All In Credit Union (“All In”). 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 SunSouth Bancshares, Inc. in conjunction with this transaction.

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 SunSouth Bancshares, Inc.’s shareholders and the receipt of required regulatory approvals, is expected to close no later than the first quarter of 2024.

Founded in 1954, SunSouth Bank is a full-service community bank with total assets of nearly $115 million. Upon completion of the transaction, All In will have total assets of approximately $3.0 billion and 33 locations.

Olsen Palmer remains one of the top-ranked bank M&A advisors nationwide according to S&P Global based on the number of whole-bank M&A transactions advised upon 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.

Transaction Announcement (PDF)

Olsen Palmer Sponsors the 2023 Arizona and Colorado Banker Summit

Olsen Palmer is pleased to attend the2023 Arizona and Colorado Banker Summit as a Gold Sponsor. The event, which is taking place May 31 - June 3, 2023 in Tucson, Arizona is the premier networking and education event for bankers in Arizona and Colorado.

More information about the Colorado Bankers Association can be found at https://www.coloradobankers.org/ and the Arizona Bankers Association can be found at https://azbankers.org/.

Dallas Business Journal Highlights Olsen Palmer Dallas Office

The Dallas Business Journal discusses the Texas M&A market and highlights Olsen Palmer’s Dallas office in a recent article.

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 Birmgham, Chicago, Dallas, Denver, and Kansas City. 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 Sponsors the Texas Bankers Association 138th Annual Convention

Olsen Palmer is pleased to attend the Texas Bankers Association as a Sponsor. The event, which is taking place May 17-19, 2023 in San Antonio, TX is the premier networking and education event for community bankers in Texas.

More information about the Texas Bankers Association can be found at https://www.texasbankers.com.