Washington, D.C. – Olsen Palmer is pleased to announce that Baton Rouge, Louisiana-based First National Bankers Bank (“FNBB”), a unit of First National Bankers Bankshares, Inc., has agreed to acquire Lake Mary, Florida-based Independent Bankers’ Bank of Florida (“IBBF”) in a transaction conducted under Section 363 of the U.S. Bankruptcy code pursuant to a petition filed in U.S. Bankruptcy Court in Orlando.
Olsen Palmer LLC served as exclusive financial advisor to FNBB.
Upon consummation of the transaction, FNBB will become the 2nd largest bankers bank in the U.S., with IBBF operating as the Florida division of FNBB.
The consideration in the transaction, which is expected to be completed in Q3 2015, is comprised of a combination of cash, FNBB common stock, and cancellation of outstanding debt currently owed by IBBF to FNBB.
This is the 6th announced or completed M&A transaction in the past 9 months on which Olsen Palmer LLC has served as advisor.
About Olsen Palmer LLC
Olsen Palmer LLC is an independent investment banking firm that advises community banks across the full spectrum of Mergers & Acquisitions. By design, we apply a community banking model to investment banking: we are nimble, high-touch, and free of conflicts. We specialize in sell-side and buy-side M&A advisory, valuations, fairness opinions, and Board-level assessments of strategic alternatives.