American Bancshares Corp. (“American”), parent company of American Bank & Trust of the Cumberlands, and Citizens Bancorp Investment, Inc. (“Citizens”), parent company of Citizens Bank of Lafayette, have completed their transaction to merge American with and into Citizens.
Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to American Bancshares Corp.
American Bank & Trust has become a part of Citizens Bank of Lafayette while American Bank & Trust’s offices continue to operate under their current name for a period of time. The combined bank now has total assets of approximately $1.3 billion and 22 banking locations and has become the 18th largest bank based in Tennessee as ranked by total assets.
The transaction has been unanimously approved by the boards of directors of Citizens and American and additionally has been approved by American shareholders and applicable regulators. The transaction was announced on July 9, 2020 and closed on November 30, 2020.
Olsen Palmer LLC is ranked as the #2 bank M&A advisor nationwide according to S&P Global, based on the number of whole-bank M&A transactions advised upon in 2020.
If you have any questions or would like additional information, please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.