Olsen Palmer Advises Merit Bank in its Agreement to Sell 2 Branches to Family Savings Credit Union

Family Savings Credit Union (“Family Savings”) and Merit Bank (“Merit”) announced that they have entered into an agreement whereby Family Savings will acquire the Valley Head, AL and Ider, AL branches of Merit. Upon consummation of the transaction, Merit will continue to operate as an independent community bank.

Olsen Palmer LLC served as financial advisor to Merit Bank.

Under the terms of the agreement Family Savings will acquire the physical locations and most of the deposit and loan accounts associated with the branches; as of the date of this announcement the deposits and loans to be conveyed by Merit to Family Savings are approximately $27 million and $4 million, respectively.

The proposed transaction is subject to customary closing conditions as well as approval by applicable regulatory authorities. It is expected to be completed in the first half of 2025.

Transaction Announcement (PDF)

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/.