Olsen Palmer is pleased to announce that First National Corporation of Wynne and its banking subsidiary The First National Bank of Wynne (Wynne, AR; $339.7 million in assets) have entered into a definitive agreement to be acquired by First Financial Banc Corporation, holding company for First Financial Bank (El Dorado, AR; $1.1 billion in assets).
Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First National Corporation of Wynne.
Upon completion of the transaction, First Financial will have total assets of approximately $1.4 billion and 17 branches across 7 counties in Arkansas and 2 counties in Mississippi. This is First Financial’s first whole-bank acquisition since 2006.
The closing of the transaction is expected to occur in the fourth quarter of 2019. The purchase is contingent upon the approval of regulatory agencies and the satisfaction of other conditions set forth in the definitive agreement.
With this transaction, Olsen Palmer remains ranked as a Top 5 bank M&A advisor across the entire U.S. according to S&P Global, as ranked based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.