Peoples Independent Bancshares, Inc., the holding company for Peoples Independent Bank, has signed a purchase & assumption agreement whereby Alabama ONE Credit Union (“Alabama ONE”) will purchase substantially all of the assets and assume substantially all of the liabilities of Peoples Independent Bank.
Olsen Palmer LLC served as financial advisor to Peoples Independent Bancshares, Inc.
The combination of Alabama ONE and Peoples Independent Bank will create a combined credit union with approximately $1.9 billion in assets. The transaction is expected to close in the second half of 2026.
Olsen Palmer is the #1 sell-side bank M&A advisor nationwide and one of the top 3 overall (sell-side + buy-side) based on 2025 transaction count, according to S&P Global.
Transaction Announcement (PDF)