Latham Bancshares, Inc., the holding company of The Tipton Latham Bank, N.A., and Bethany Bankshares, Inc., the holding company of BTC Bank, have jointly announced that they have entered into a definitive agreement pursuant to which Bethany Bankshares, Inc. will acquire Latham Bancshares, Inc. through a series of mergers, with Bethany Bankshares, Inc. continuing as the surviving corporation. Immediately after the acquisition of Latham Bancshares, Inc., The Tipton Latham Bank, N.A. will be merged with and into BTC Bank, with BTC Bank continuing as the surviving bank.
Olsen Palmer LLC served as financial advisor to Latham Bancshares, Inc. 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 second quarter of 2026, subject to customary closing conditions, including shareholder and regulatory approvals. Based on most recently reported financials, the combined institution is expected to have approximately $1.7 billion in assets across 26 banking offices.
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