OLSEN PALMER ADVISES FIRST ALLIANCE BANK IN ITS AGREEMENT TO BE ACQUIRED BY GUARANTY BANK & TRUST COMPANY

Olsen Palmer is pleased to announce that Memphis, Tennessee-based First Alliance Bancshares, Inc. and its banking subsidiary First Alliance Bank, have entered into a definitive agreement to be acquired by Belzoni, Mississippi-based Guaranty Capital Corporation, the holding company for Guaranty Bank & Trust Company, in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First Alliance Bancshares, Inc.

The transaction, which has been approved by the Board of Directors of both companies but remains subject to customary shareholder and regulatory approvals, is expected to be completed in the fourth quarter of 2019.

With the transaction, Guaranty Bank & Trust Company will establish a branch presence in the Tennessee banking market and will have total assets of approximately $1.0 billion and 21 branches across Mississippi and Tennessee.

With this transaction, Olsen Palmer LLC remains ranked as a Top 5 bank M&A advisory firm across the entire United States according to S&P Global, as ranked based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES THE FIRST NATIONAL BANK OF WYNNE IN ITS AGREEMENT TO BE ACQUIRED BY FIRST FINANCIAL BANK

Olsen Palmer is pleased to announce that First National Corporation of Wynne and its banking subsidiary The First National Bank of Wynne (Wynne, AR; $339.7 million in assets) have entered into a definitive agreement to be acquired by First Financial Banc Corporation, holding company for First Financial Bank (El Dorado, AR; $1.1 billion in assets).

Olsen Palmer LLC served as exclusive financial advisor and issued a Fairness Opinion to First National Corporation of Wynne.

Upon completion of the transaction, First Financial will have total assets of approximately $1.4 billion and 17 branches across 7 counties in Arkansas and 2 counties in Mississippi. This is First Financial’s first whole-bank acquisition since 2006. 

The closing of the transaction is expected to occur in the fourth quarter of 2019. The purchase is contingent upon the approval of regulatory agencies and the satisfaction of other conditions set forth in the definitive agreement.

With this transaction, Olsen Palmer remains ranked as a Top 5 bank M&A advisor across the entire U.S. according to S&P Global, as ranked based on the number of whole-bank sell-side M&A transactions advised upon in 2019 year-to-date.

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

TRANSACTION ANNOUNCEMENT (PDF)

OLSEN PALMER ADVISES FARMERS & MERCHANTS BANK OF ORFORDVILLE IN ITS AGREEMENT TO BE ACQUIRED BY BANK OF BRODHEAD

Olsen Palmer is pleased to announce that Farmers & Merchants Bank of Orfordville (“Farmers & Merchants Bank”) has entered into an Agreement and Plan of Merger to be acquired by Brodhead Bancshares, Inc., parent of The Bank of Brodhead.

Olsen Palmer LLC served as exclusive financial advisor to Farmers & Merchants Bank in connection with this transaction.

Olsen Palmer remains ranked as a Top 5 bank M&A advisory firm according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

The transaction is expected to be completed in the fourth quarter of 2019 pending regulatory and shareholder approvals as well as other customary closing conditions. Brodhead Bancshares, Inc. will be the holding company for both banks following closing of the transaction and it is anticipated that Farmers & Merchants Bank will be merged with and into The Bank of Brodhead at a future date.

Download Transaction Announcement (PDF)

OLSEN PALMER CLIENT FIRST MADISON BANK & TRUST HAS BEEN ACQUIRED BY UNITED COMMUNITY BANKS, INC.

Olsen Palmer is pleased to announce that on May 1, 2019, First Madison Bank & Trust (“First Madison”) was acquired by United Community Banks, Inc. (“United”, NASDAQ: UCBI) in an all-cash transaction valued at approximately $52 million, equivalent to 1.94x First Madison’s normalized tangible common equity (“TCE”) based on a normalized TCE ratio of 9.0%.

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

Olsen Palmer is ranked as a Top 5 bank M&A advisor across the entire U.S. according to SNL Financial/S&P Global, based on the number of whole-bank M&A transactions advised upon in 2019 year-to-date.

If you would like 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 CLIENT SENB BANK ACQUIRES GATEWAY BANC CORP.

Olsen Palmer is pleased to announce that McLaughlin Holding Company (“McLaughlin”), holding company for SENB Bank (“SENB Bank”), has acquired Gateway Banc Corp., parent company of Gateway Community Bank (collectively, “Gateway”). Under the merger, McLaughlin has acquired 100% of the outstanding stock of Gateway in an all-cash transaction.

Olsen Palmer LLC served as exclusive financial adviser to McLaughlin Holding Company, parent of SENB Bank.

The combined company has approximately $313.7 million in total assets and 7 branches spanning  through Northwest Illinois and Southern Wisconsin. With the merger, SENB Bank will enter the greater Rockford, Illinois area, the third largest city in the state, and Beloit, Wisconsin, part of the second largest Metropolitan Statistical Area in in Wisconsin.

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