OLSEN PALMER ADVISES CAMP GROVE STATE BANK IN AGREEMENT TO BE ACQUIRED BY KATZ CAPITAL

Olsen Palmer is pleased to announce that Camp Grove Bancorp, Inc., parent company of Camp Grove State Bank, has signed a definitive agreement to be acquired by an affiliate of Katz Capital in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor to Camp Grove Bancorp.

Olsen Palmer is now the #3 ranked bank M&A advisor in the entire U.S. according to S&P Global, based on the number of whole-bank transactions advised upon in 2019 year-to-date.

With the transaction, which is set to close in the second half of 2019, Katz Capital will bring a new community bank to Florida and will expand the services of its wholly-owned entities into greater Illinois.

If you would like any additional information or have any questions – on M&A, valuation, or strategic options – please feel free to contact me at 202-627-2043 or colsen@olsenpalmer.com.

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OLSEN PALMER IS PLEASED TO ANNOUNCE FIRST NATIONAL BANK OF MCHENRY HAS BEEN ACQUIRED BY BLACKHAWK BANK

Olsen Palmer is pleased to announce that First McHenry Corporation, parent company of First National Bank of McHenry, has been acquired by Blackhawk Bancorp, Inc. (OTCQX: BHWB), parent company of Blackhawk Bank, in an all-cash transaction valued at $23.0 million.

Olsen Palmer LLC served as exclusive financial advisor to First McHenry Corporation and is now ranked as one of the top 5 bank M&A advisors in the U.S. according to S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

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OLSEN PALMER ADVISES FIRST MADISON BANK & TRUST IN AGREEMENT TO BE ACQUIRED BY UNITED COMMUNITY BANKS, INC.

Olsen Palmer is pleased to announce that First Madison Bank & Trust (“First Madison”) has agreed to be acquired by United Community Banks, Inc. (“United”, NASDAQ: UCBI) in an all-cash transaction valued at approximately $52 million. The merger will expand United’s presence into a fast-growing market area and is a natural geographic extension of its existing footprint.  

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First Madison Bank & Trust.

The aggregate merger consideration of approximately $52 million is equivalent to 1.94x First Madison’s normalized tangible common equity (“TCE”) based on a normalized TCE ratio of 9.0%. The transaction is expected to be approximately 2% dilutive to United’s tangible book value per share, including one-time transaction costs, and slightly accretive to United’s fully diluted earnings per share for its partial year contribution in 2019, excluding one-time transaction costs, and $.05 per share accretive in 2020. 

Upon consummation of the transaction, First Madison will merge into United Community Bank and operate under its brand. 

Closing, which is subject to customary conditions including receipt of required regulatory approvals and the approval of First Madison’s shareholders, is expected to occur in the second quarter of 2019.

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About Olsen Palmer LLC               

Olsen || Palmer is an independent, nationally-recognized investment banking firm that advises financial institutions across Mergers & Acquisitions. By design, advising clients is our only business allowing a truly client-centric approach: nimble, high-touch, and conflict-free. Specializing in buy-side M&A advisory, sell-side M&A advisory, valuations, fairness opinions, branch acquisitions and divestitures, and Board-level assessments of strategic options.

CHRISTOPHER OLSEN TO SPEAK AT BANK DIRECTOR’S “ACQUIRE OR BE ACQUIRED” 2019 CONFERENCE

Olsen Palmer LLC is pleased to announce that Managing Partner, Christopher Olsen, will be a featured speaker at Bank Director’s Acquire or Be Acquired Conference on January 27, 2019.

Without question, much of the success of a bank M&A deal hinges on its structure and, by extension, how the deal was negotiated. Done right, M&A can unlock substantial value and mitigate significant risks for both buyers and sellers. Mr. Olsen’s presentation, entitled Negotiating the Deal: Best Practices for Maximizing Value and Minimizing Risk in Bank M&A, reveals tactical recommendations and practical advice for negotiating and structuring the best deal for your bank and its shareholders.

The Acquire or Be Acquired Conference is a premier annual event for Bank CEOs and Board members, bringing together key thought leaders from across the country to explore and discuss bank merger & acquisition strategies and related growth opportunities.

For a copy of Mr. Olsen’s presentation materials or with any questions, please send an inquiry to info@olsenpalmer.com.