Olsen Palmer Advises Peoples Bank and Trust in its Agreement to Acquire KANZA Bank

PBT Bancshares, Inc., the holding company of Peoples Bank and Trust Company, and KANZA Financial Corporation, the holding company of KANZA Bank, have jointly announced today the signing of a stock purchase agreement whereby PBT Bancshares, Inc. will acquire KANZA Bank. Following the closing of the transaction, KANZA Bank will be merged with and into Peoples Bank and Trust Company with Peoples Bank and Trust Company as the surviving entity.

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

Based on the most recent reported financials, the combined institution is expected to have approximately $1.5 billion in total assets and 21 banking offices.

The transaction has been approved by the board of directors of each company and is expected to close in the second quarter of 2025, subject to customary closing conditions including shareholder and regulatory approvals.

Transaction Announcement (PDF)

Olsen Palmer Sponsors the Independent Community Bankers of Colorado Annual Convention

Olsen Palmer is pleased to be a Sponsor of the Independent Community Bankers of Colorado Annual Convention. The event, which took place September 18-20 in Vail, Colorado, is the premier opportunity networking and education event for Colorado bankers.

More information about the Independent Community Bankers of Colorado can be found at https://icbcolo.org/.

Olsen Palmer Sponsors the Kansas Bankers Association March on Washington

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 Sponsors the Bank Director 2024 Bank Board Training Forum

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/.

Olsen Palmer Advises Bank of Cleveland in its Agreement to be Acquired by Builtwell Bank

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.

Transaction Announcement (PDF)