Olsen Palmer is pleased to be a continued sponsor of the Illinois Bankers Association and Ohio Banker League Annual Convention. The event, which took place June 24-27, 2024 at the Omni Island Resort in Amelia Island, FL is the premier event for bankers in Illinois and Ohio.
More information about the Illinois Bankers Association can be found at https://illinois.bank/ and information about the Ohio Bankers League can be found at https://www.ohiobankersleague.com/.
Olsen Palmer is pleased to be a continued sponsor of the Tennessee Bankers Association’s Annual Meeting. The event, which took place June 16-18, 2024 at The Greenbrier is the premier event for Tennessee Bankers.
More information about the Tennessee Bankers Association can be found at https://tnbankers.org/.
Westminster, Colorado-based Mountain View Bank of Commerce has entered into a definitive agreement to be acquired by Academy Bank, N.A. and its parent, Dickinson Financial Corporation. The transaction is expected to close in the fourth quarter 2024.
Olsen Palmer LLC served as financial advisor to NBC Bancshares LLC, parent of Mountain View Bank of Commerce in connection with this transaction.
With over $2.7 billion in assets, Academy Bank, N.A. is headquartered in Kansas City, Missouri and serves clients online and in 72 locations across four states—AZ, CO, KS and MO. The deal expands Academy Bank’s already significant presence in the Colorado market with a Westminster branch and a Boulder loan production office. Post closing, Academy Bank will have 28 branches and over $725 million in deposits throughout Colorado.
Olsen Palmer LLC is pleased to announce that they are a sponsor at Maryland Bankers Association and Virginia Bankers Associations Joint Convention held June 2-4, 2024 in Amelia Island, FL and Managing Partner Christopher Olsen is a featured speaker.
More information about the Maryland Bankers Association can be found at https://www.mdbankers.com/ and the Virginia Bankers Association can be found at https://www.vabankers.org/
RBAZ Bancorp, Inc. (OTCPK: RBAZ, “RBAZ”), the holding company of Republic Bank of Arizona, an Arizona state bank (“Republic Bank”) and Pima Federal Credit Union (“Pima”), announced today that they have entered into a definitive agreement whereby Pima will purchase substantially all of the assets and assume substantially all of the liabilities of Republic Bank in an all-cash transaction.
Olsen Palmer LLC served as financial advisor to RBAZ Bancorp, Inc.
Based on RBAZ’s outstanding shares on a fully-diluted basis, other assumptions, and after taking into consideration the anticipated satisfaction of certain obligations of RBAZ and Republic Bank, including tax liabilities and holding company indebtedness, RBAZ currently estimates that its shareholders will receive approximately $22.00 per fully diluted share upon final liquidation, subject to various adjustments.
The purchase and assumption agreement has been unanimously approved by the Boards of Directors of both organizations. The combination is subject to approval by RBAZ’s shareholders, applicable regulators, and other customary closing conditions. The transaction is expected to be completed during the second half of 2024.
