Olsen Palmer is pleased to announce that NorthSide Bancshares, Inc. (“NBI”), parent of NorthSide Bank (“NorthSide”), and First Chatsworth Bankshares, Inc. (“FCBI”), parent of First National Community Bank (“FNCB”), have executed a definitive merger agreement under which FCBI will merge with NBI and NorthSide through an all-stock transaction with FCBI and FNCB as the surviving parent company and banking subsidiary, respectively.
Olsen Palmer LLC served as exclusive financial advisor to NorthSide Bank and its parent company NorthSide Bancshares, Inc.
Upon completion of the merger, the combined organization will have approximately $300 million in assets, $250 million in deposits, 83 associates, 7 branches across 4 Georgia counties, and a loan production office in Chattanooga, Tennessee. Larry Flowers, NorthSide’s current President and CEO, will assume those same roles for both FCBI and FNCB following consummation of the transaction.
The transaction, which is expected to close in the 2nd quarter of 2019, remains subject to approval by NorthSide Bancshares, Inc.’s shareholders and approval by federal and state regulatory authorities as well as the satisfaction of other customary closing conditions provided in the merger agreement.
If you would like additional information or have any questions – on M&A, valuation, or strategic options – please feel free to contact us at 202-627-2043 or firstname.lastname@example.org.
About Olsen Palmer LLC
Olsen || Palmer is an independent, nationally-recognized investment banking firm that 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.