Olsen Palmer is pleased to again be a Gold Sponsor of the Kansas Bankers Association 2024 March on Washington. The event, which takes place September 16-18 in Washington, DC, is the premier opportunity for KBA members to network and have face-to-face conversations with key federal staffers.
More information about the Kansas Bankers Association can be found at https://ksbankers.com/.
Olsen Palmer is pleased to, again, attend the Bank Director’s 2024 Bank Board Training Forum as a speaker and sponsor. The event, which takes place September 16-17, 2023 in Nashville, Tennessee is a premier networking and education event catered to bank directors.
More information about the Bank Director can be found at https://www.bankdirector.com/.
Bradley County Financial Corp. (“Bradley”), the holding company of Bank of Cleveland and Builtwell Bancorp, Inc. (“Builtwell”), the holding company of Builtwell Bank, announced today an agreement whereby Builtwell and Bradley will merge. Upon completion of the proposed transaction, Builtwell will be the surviving entity and will be the parent company of both Builtwell Bank and Bank of Cleveland until Bank of Cleveland is merged with and into Builtwell Bank at a later date.
Olsen Palmer LLC served as financial advisor to Bradley County Financial Corp. and issued a fairness opinion to its Board of Directors.
The transaction, which has been approved by the Board of Directors of both companies and is subject to shareholder and regulatory approvals, is expected to close in the first quarter of 2025.
Based on most recent reported financials, the combined institution is expected to have approximately $2.2 billion in total assets and 37 banking offices.
Johnson County Bank and Skyline Bankshares, Inc. (“Skyline”, OTCQX: SLBK), the holding company of Skyline National Bank, announced today that they have combined their companies. Under the terms of the agreement, Johnson County Bank merged with and into Skyline National Bank in an all cash transaction valued at $25.0 million. Furthermore, one Johnson County Bank director, the previous CEO of Johnson County Bank, has joined 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.
Transaction Announcement (PDF)
Algonquin State Bank and its parent holding company, First Algonquin Company, announced that it has been acquired by Michigan State University Federal Credit Union (MSUFCU). Pursuant to the definitive agreement, MSUFCU purchased substantially all assets and assumed substantially all liabilities of Algonquin State Bank.
Olsen Palmer LLC served as financial advisor to First Algonquin Company.
With the transaction finalized, the combined institution has approximately $8.0 billion in assets. Vedder Price P.C. acted as legal advisor to Algonquin State Bank in connection with the transaction.
