Norcon Financial Corp., the holding company of Conway Bank, announced the signing of a definitive agreement with Overbrook Bankshares, Inc., the holding company to First Security Bank, whereby Overbrook Bankshares, Inc. will acquire Norcon Financial Corp. through the merger of Norcon Financial Corp. with and into Overbrook Bankshares, Inc., with Overbrook Bankshares, Inc. continuing as the surviving entity. Immediately following the merger, Conway Bank will be merged with and into The First Security Bank, with The First Security Bank continuing as the surviving bank.
Olsen Palmer LLC served as financial advisor to Norcon Financial Corp. in connection with this transaction.
The transaction has been approved by the board of directors of each company and is expected to close in the first half of 2026, subject to customary closing conditions including shareholder and regulatory approvals.
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