Peoples Independent Bancshares, Inc. announced the successful closing of Alabama ONE Credit Union’s (“Alabama ONE”) purchase of Peoples Independent Bank, a wholly owned subsidiary of Peoples Independent Bancshares, Inc. The transaction, previously announced on February 18, 2026, has received all necessary regulatory approvals.
Olsen Palmer LLC served as financial advisor to Peoples Independent Bancshares, Inc.
The completion of this transaction expands Alabama ONE's presence in northeast Alabama and further strengthens its ability to serve members and communities throughout the state. The combined organization now has approximately $1.9 billion in assets and an expanded statewide footprint, enhancing access to financial services, technology, and resources for both existing members and former Peoples Independent Bank customers.
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.
Transaction Announcement (PDF)