Wichita Falls Bancshares, Inc. (“Wichita Falls”), the holding company of First National Bank ($1.6 billion in assets), and Investar Holding Corporation (“Investar”) (NASDAQ: ISTR), the holding company of Investar Bank, N.A. ($2.7 billion in assets), jointly announced today that they have entered into a definitive agreement pursuant to which Investar will acquire Wichita Falls for cash and stock consideration valued at approximately $85.5 million.
Olsen Palmer LLC served as financial advisor and issued a fairness opinion to Wichita Falls Bancshares, Inc.
The definitive agreement has been unanimously approved by the boards of directors of Investar and Wichita Falls and the closing of the transaction, which is expected to occur in the fourth quarter of 2025, is subject to customary conditions including shareholder and regulatory approvals.
Olsen Palmer remains the #2 sell-side bank M&A advisor nationwide – and top 3 overall – based on the number of transactions advised upon since 2020, according to S&P Global.