New Independent Bancshares, Inc., parent company of The New Washington State Bank (“NWSB”), and State Bank of Medora jointly announced New Independent has acquired State Bank of Medora.
Olsen Palmer LLC served as financial advisor to New Independent Bancshares, Inc.
With the consummation of the transaction, NWSB has 11 banking offices located in Southern Indiana and approximately $725 million in total assets. NWSB is set to further expand their footprint with the opening of a de novo branch by year end. Financial terms of the transaction were not disclosed.
Olsen Palmer is the #2 sell-side bank M&A advisor nationwide — and top 3 overall — based on total deal count since 2020, according to S&P Global.