Washington, D.C. – Olsen Palmer is pleased to announce that Southern Community Bank (“SCB”) and its parent company (“TBI”) have been acquired by SmartFinancial, Inc. (NASDAQ: SMBK), parent of SmartBank, in an all-stock transaction valued at approximately $34.9 million.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to the parent company of Southern Community Bank.

Pursuant to the terms of the merger agreement, each share of TBI common stock was exchanged for 0.8065 shares of SmartFinancial common stock, equal to a total value of approximately $34.9 million based on the 10-day Volume Weighted Average Closing Price of SmartFinancial’s stock as described in the agreement.

With the completion of the merger, Southern Community Bank’s CEO Bill Yoder has assumed the role of Chief Banking Officer for SmartBank and TBI Board member Clifton Miller has joined the SmartFinancial and SmartBank boards of directors.

With this transaction, Olsen Palmer has now advised on approximately $750 million in total bank M&A transaction value over the past 36 months.

If you have any questions or would like additional information, please feel free to contact 202-627-2043 or colsen@olsenpalmer.com.


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About Olsen Palmer LLC

Olsen || Palmer is an independent, nationally-recognized investment banking firm that exclusively advises financial institutions across Mergers & Acquisitions. By design, advising clients is our only business allowing a truly client-centric approach: nimble, high-touch, and conflict-free.

Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

For more information, please visit www.OlsenPalmer.com.