Olsen Palmer is pleased to announce that American Bancshares Corp. (“American”), parent company of American Bank & Trust of the Cumberlands, and Citizens Bancorp Investment, Inc. (“Citizens”), parent company of Citizens Bank of Lafayette, have entered into a definitive agreement providing for the merger of American with and into Citizens.
Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to American Bancshares Corp.
Subsequent to the merger, American Bank & Trust will become a part of Citizens Bank of Lafayette while American Bank & Trust’s offices will continue to operate under their current name for a period of time. The combined bank will have total assets of approximately $1.2 billion and 22 banking locations.
The transaction, which has been unanimously approved by the boards of directors of Citizens and American but remains subject to customary closing conditions including receipt of regulatory approvals and approval by American shareholders, is expected to close in the fourth quarter of 2020.
Olsen Palmer LLC is ranked as a top 3 bank M&A advisor across the entire U.S. according to S&P Global, based on the number of whole-bank M&A transactions advised upon in 2020 year-to-date
If you have any questions or would like additional information, please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.
OLSEN PALMER ADVISES AMERICAN BANCSHARES CORP. IN ITS SALE TO CITIZENS BANCORP INVESTMENT, INC.