Two Rivers Bank, banking subsidiary of Arlington State Banc Holding Company, has been acquired by First State Fremont, the holding company for First State Bank & Trust Co.
Olsen Palmer LLC served as exclusive financial advisor to the Board of Arlington State Banc Holding Company in connection with this transaction.
Founded in 1890, Two Rivers Bank had two branches and total assets of approximately $146 million as of September 30, 2021, while First State Bank & Trust Co., founded in 1956, had four branches and total assets of approximately $289 million as of September 30, 2021.
As a result of the transaction, the combined company now has six branches and total assets in excess of $430 million based on financial information as of September 30, 2021.
Olsen Palmer LLC is one of the top 3 bank M&A advisory firms nationwide according to S&P Global as ranked by the total number of whole-bank M&A transactions advised upon since 2019.