BancStar, Inc., the holding company of Bank Star, and Rhineland Bancshares, Inc., the holding company of Peoples Savings Bank, have jointly announced today the signing of a definitive agreement whereby Rhineland Bancshares, Inc. will acquire BancStar, Inc. Following the closing of the transaction, BancStar, Inc. will be merged with and into Rhineland Bancshares, Inc. with Rhineland Bancshares, Inc. continuing as the surviving entity.
Olsen Palmer LLC served as financial advisor to BancStar, Inc.
The transaction has been approved by the board of directors of each company and is expected to close in Q1 of 2026, subject to customary closing conditions including shareholder and regulatory approvals. The combined institution is expected to have 18 banking offices.
Olsen Palmer remains one of the top 3 overall bank M&A advisors nationwide based on the number of transactions advised upon since 2020, according to S&P Global. The firm’s Managing Partner Christopher Olsen is the #1 individual bank M&A advisor nationwide over the same period.