ASB Management Corp., and its wholly owned subsidiary, Anna State Bank, has been acquired by Alliance Bancshares, Inc., the bank holding company for Alliance Bank.
Olsen Palmer LLC served as financial advisor to ASB Management Corp.
Anna State Bank, an Illinois state-chartered bank headquartered in Anna, Illinois, holds approximately $112 million in total assets. Alliance Bank, a Missouri state-chartered bank headquartered in Cape Girardeau, Missouri, operates with approximately $400 million in total assets across five branches throughout Southeast Missouri.
Olsen Palmer is the #1 sell-side bank M&A advisor nationwide based on transaction count over the last four quarters, according to S&P Global.