Lafayette Bancorp, Inc. (“Lafayette”), the holding company of Oxford University Bank, and Guaranty Capital Corporation (“Guaranty”), the holding company of Guaranty Bank & Trust Company (“Guaranty Bank”), announced the signing of a definitive merger agreement pursuant to which Guaranty will acquire Lafayette.
Olsen Palmer LLC served as financial advisor to Lafayette Bancorp, Inc. in conjunction with this transaction.
The transaction has been approved by the board of directors of each company, is expected to close in the first quarter of 2024, and is subject to customary regulatory and shareholder approvals. Upon completion, Oxford University Bank will become a wholly owned subsidiary of Guaranty. Guaranty expects to merge Oxford University Bank with and into Guaranty Bank, with Guaranty Bank surviving, in the second or third quarter of 2024, subject to regulatory approval.
Founded in 2000, Lafayette has total assets exceeding $245 million, three locations across 2 counties, and holds a top 5 ranked share of the Oxford market as of June 30, 2023. Post-acquisition, the combined companies will have approximately $2.6 billion in assets with 39 branches, including the impact of a separate, unrelated transaction.
Olsen Palmer is the #1 sell-side bank M&A advisor nationwide - and one of the top 2 bank M&A advisors overall - according to S&P Global, based on the number of transactions advised upon in 2023 year-to-date.