Olsen Palmer Advises Johnson County Bank in its Agreement to be Acquired by Skyline Bankshares, Inc.

Johnson County Bank and Skyline Bankshares, Inc. (“Skyline”, OTCQX: SLBK), the holding company of Skyline National Bank, announced today that they have entered into a definitive agreement to combine their companies. Under the terms of the agreement, Johnson County Bank will merge with and into Skyline National Bank in an all cash transaction valued at $25.0 million. Furthermore, one Johnson County Bank director, the current CEO of Johnson County Bank, will be invited to join the Skyline Board of Directors.

Olsen Palmer LLC served as financial advisor to Johnson County Bank in connection with this transaction and issued a Fairness Opinion to its Board of Directors.

Luse Gorman, PC acted as legal advisor to Johnson County Bank in connection with the transaction.

The combination is subject to approval by Johnson County Bank's shareholders, banking regulators, and other customary closing conditions. The transaction is expected to be completed during the second half of 2024.

Transaction Announcement (PDF)

Olsen Palmer Advises Lafayette Bancorp, Inc. in its Sale to Guaranty Capital Corporation

Lafayette Bancorp, Inc. (“Lafayette”), the holding company of Oxford University Bank, and Guaranty Capital Corporation (“Guaranty”), the holding company of Guaranty Bank & Trust Company (“Guaranty Bank”), announced Guaranty has acquired Lafayette.

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

With completion of the transaction, Oxford University Bank will become a wholly owned subsidiary of Guaranty. Guaranty expects to merge Oxford University Bank with and into Guaranty Bank, with Guaranty Bank surviving.

Founded in 2000, Lafayette had total assets exceeding $240 million and three locations across 2 counties as of December 31, 2023. Post-acquisition, the combined companies have approximately $2.7 billion in assets with 41 branches.

Butler Snow served as legal advisor to Lafayette and Hunton Andrews Kurth served as legal advisor to Guaranty.

Transaction Announcement (PDF)

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)