Olsen Palmer Advises NSTS Bancorp, Inc. in Its Agreement to Be Acquired for $73.7 Million

NSTS Bancorp, Inc. (NASDAQ: NSTS), the holding company for North Shore Trust and Savings (“North Shore”), and Brookfield Bancshares Inc. (“Brookfield”), the holding company for First National Bank of Brookfield, today jointly announced the signing of a definitive merger agreement in which Brookfield will acquire NSTS and North Shore in an all-cash transaction valued at approximately $73.7 million. North Shore will continue to operate under its existing name and federal savings association charter as a subsidiary of Brookfield.

Olsen Palmer LLC served as financial advisor and issued a fairness opinion to NSTS Bancorp, Inc.​

The transaction is anticipated to close in the fourth quarter of 2026, subject to certain closing conditions.

Olsen Palmer is the #1 sell-side bank M&A advisor nationwide and one of the top 3 overall (sell-side + buy-side) based on transaction count since 2025, according to S&P Global.

Transaction Announcement (PDF)

Olsen Palmer Advises Farmers State Bank in Its Agreement to Be Acquired by Hawthorn Bank

FSC Bancshares Inc. (“FSC”), the holding company for Farmers State Bank, and Hawthorn Bancshares, Inc. (“Hawthorn”) (NASDAQ: HWBK), the holding company for Hawthorn Bank, jointly announced the signing of an Agreement and Plan of Reorganization pursuant to which Hawthorn will acquire FSC in a cash and stock transaction valued at approximately $28.3 million in the aggregate, based on Hawthorn’s closing stock price of $34.57 as of April 28,2026.​

Olsen Palmer LLC issued a fairness opinion to FSC Bancshares, Inc.​

The proposed transaction is expected to be completed in the third quarter of 2026, subject to the satisfaction of customary closing conditions, including approval by FSC shareholders and the receipt of all required regulatory approvals.

Olsen Palmer is the #1 sell-side bank M&A advisor nationwide and one of the top 3 overall (sell-side + buy-side) based on transaction count since 2025, according to S&P Global.

Transaction Announcement (PDF)

Olsen Palmer Advises High Plains Bank in Its Merger with First National Bank of Hugo

High Plains Banking Group, Inc., parent of High Plains Bank, has completed its merger with The First National Bank of Hugo. The institutions will now operate as one bank under the High Plains Bank name.

Olsen Palmer LLC served as financial advisor to High Plains Banking Group, Inc.

First National Bank of Hugo’s CEO plans to retire shortly after the merger and will serve on the High Plains Bank board of directors.

Olsen Palmer is the #1 sell-side bank M&A advisor nationwide and one of the top 3 overall (sell-side + buy-side) based on transaction count since 2025, according to S&P Global.

Transaction Announcement (PDF)

Olsen Palmer Advises Citizens Bank & Trust in Its Agreement to Sell 2 Branches

Citizens Bank & Trust and Family Savings Credit Union (“Family Savings”) have entered into an agreement whereby Family Savings will acquire two branches of Citizens Bank & Trust.

Olsen Palmer LLC served as financial advisor to Citizens Bank & Trust.

The proposed branch sale is subject to customary closing conditions as well as approval by applicable regulatory authorities. It is expected to be completed in the second half of 2026. Under the terms of the agreement, Citizens Bank & Trust will convey the physical locations and most of the deposit and loan accounts associated with the branches. Citizens Bank & Trust will continue to operate as an independent institution through its remaining locations.

Olsen Palmer was the #1 sell-side bank M&A advisor nationwide in 2025 and one of the top 3 overall (sell-side + buy-side) based on transaction count, according to S&P Global.

Transaction Announcement (PDF)

Olsen Palmer Advises First Citizens Bank of Butte in Its Sale to Frontier Credit Union

First Citizens Bank of Butte (“First Citizens Bank”), and Frontier Credit Union (“Frontier”) announced that Frontier has acquired First Citizens Bank.

Olsen Palmer LLC served as financial advisor to Butte Bank Shares, Inc., parent of First Citizens Bank.

The legacy First Citizens Bank branch will become the 16th location in Frontier's growing regional footprint. The transaction marks the Idaho-based credit union's initial expansion into Montana.

Olsen Palmer was the #1 sell-side bank M&A advisor nationwide in 2025 and one of the top 3 overall (sell-side + buy-side) based on transaction count, according to S&P Global.

Transaction Announcement (PDF)