OneSouth Bank, the banking subsidiary of OneSouth Financial, Inc., has been acquired by Five Star Credit Union. The deal was structured as a purchase and assumption transaction and the consideration was all-cash.
Olsen Palmer LLC served as financial advisor to OneSouth Financial, Inc.
Upon consummation, Five Star has total assets of approximately $1 billion and 25 full-service banking locations.
Fenimore Kay Harrison LLP served as legal advisor to One South Financial, Inc. and Honigman LLP served as legal advisor to Five Star Credit Union.