Olsen Palmer Discusses Bank M&A with the Birmingham Business Journal

Olsen Palmer Managing Director Michael Rediker discusses current bank M&A landscape with the Birmingham Business Journal in 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.

Christopher Olsen to Speak at Bank Director's "2024 Acquire or Be Acquired" Conference

Olsen Palmer LLC is pleased to announce that they are a sponsor at Bank Director’s Acquire or Be Acquired Conference being held January 28-30, 2024 in Scottsdale, Arizona and Managing Partner Christopher Olsen is a featured speaker. Mr. Olsen will moderate a ‘fireside chat’ with Bruce Lee, President & CEO of Heartland (HTLF) and Gary Crum, Former CEO of Western States Bank.

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.

Olsen Palmer Advises Morton Bancorp, Inc. in its Sale to Commerce Bancorp, Inc.

Morton Bancorp, Inc., the holding company for Bank of Morton, and Commerce Bancorp, Inc., the holding company for Bank of Commerce, jointly announced that Commerce Bancorp has acquired Morton Bancorp in an all-cash transaction. Other financial terms were not disclosed.

Olsen Palmer LLC served as financial advisor to Morton Bancorp, Inc. in conjunction with this transaction.

As part of the transaction, Bank of Morton merged with and into Bank of Commerce. Upon consummation, Bank of Commerce has total assets of approximately $900 million and 10 full-service banking locations, based on financial information as of September 30, 2023.

Fenimore Kay Harrison served as legal advisor to Morton Bancorp, Inc. and Jones Walker served as legal advisor to Commerce Bancorp.

Transaction Announcement (PDF)

Olsen Palmer Advises FEB Bancshares Inc. in its agreement to sell 5 branches to All In Credit Union

22nd State Bank, subsidiary of FEB Bancshares Inc., announced that it has entered into a Purchase and Assumption agreement to sell 5 branch locations (the “Branches”) to All In Credit Union. Upon consummation of this transaction 22nd State Bank will continue to operate as an independent community bank through its remaining branches.

Olsen Palmer LLC served as financial advisor to FEB Bancshares Inc. in conjunction with this transaction.

Pursuant to the terms of the Purchase and Assumption Agreement, All In has agreed to assume certain deposit liabilities and to acquire certain loans, as well as cash, real property, personal property and other fixed assets associated with the Branches. As of October 31, 2023 the deposit and loan balances associated with the transaction were approximately $145 million and $130 million, respectively.

The transaction, which has been unanimously approved by the Board of Directors of both institutions but remains subject to customary closing conditions and the receipt of required regulatory approvals, is expected to close no later than the third quarter of 2024.

Transaction Announcement (PDF)

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 has acquired most of the assets and assumed most of the liabilities of First Bank. The transaction was structured as a purchase and assumption transaction, and the consideration was all-cash. Other financial terms were not disclosed.

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

With this 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. With this transaction with First Bank, Alabama ONE has total assets of approximately $1.2 billion and 25 branches across Alabama.

Transaction Announcement (PDF)