Family Savings Credit Union (“Family Savings”) and Merit Bank (“Merit”) announced that Family Savings has acquired the Valley Head and Ider branches of Merit. Merit will continue to operate as an independent community bank through its headquarters location in Huntsville.
Olsen Palmer LLC served as financial advisor to Merit Bank.
Family Savings has acquired the physical locations and most of the deposit and loan accounts associated with the branches; the deposits and loans to be conveyed by Merit to Family Savings are approximately $21 million and $3 million, respectively.
Olsen Palmer remains the #2 sell-side bank M&A advisor nationwide – and top 3 overall – based on the number of transactions advised since 2020 according to S&P Global.