Olsen Palmer Advises Peoples Bank in Their Acquisition by First Commerce Bank

Peoples Bank of Middle Tennessee (“Peoples Bank”) and First Commerce Bancorp, Inc. (“FC Bancorp”), the parent company of First Commerce Bank, announced that FC Bancorp has acquired Peoples Bank providing for the merger of Peoples Bank with and into First Commerce Bank.

Olsen Palmer LLC served as financial advisor and issued a fairness opinion to Peoples Bank of Middle Tennessee.

On a pro forma basis as of December 31, 2024, the combined bank has total assets of approximately $852 million. Bass, Berry & Sims PLC served as legal counsel to Peoples Bank of Middle Tennessee and K&L Gates LLP served as legal counsel to FC Bancorp.

Olsen Palmer remains the #2 sell-side bank M&A advisor nationwide – and a top 3 overall advisor – based on the number of transactions advised upon since 2020, according to S&P Global.

Download Announcement (PDF).

Olsen Palmer Advises the Lemont National Bank in its Agreement to be Acquired by NuMark Credit Union

The Lemont National Bank (“Lemont") and NuMark Credit Union (“NuMark") jointly announced today that they have entered into an agreement whereby NuMark will purchase substantially all of the assets and liabilities of Lemont in an all-cash transaction.

Olsen Palmer LLC served as financial advisor to Lemont Bancorp Inc. and The Lemont National Bank.

The board of directors of The Lemont National Bank and NuMark Credit Union have unanimously approved the transaction. The transaction is subject to customary closing conditions, including receipt of shareholder and regulatory approvals and is expected to close in the second half of 2025. When the purchase is complete NuMark will have approximately $910 million in assets and increase its footprint with a total of 15 branches.

Olsen Palmer remains the #2 sell-side bank M&A advisor nationwide – and a top 3 overall bank M&A advisor – based on the number of transactions advised upon since 2020 according to S&P Global.

Download Announcement (PDF).

Christopher Olsen to Speak at Bank Director's "2025 Acquire or Be Acquired" Conference

Olsen Palmer LLC is pleased to announce that they are a sponsor at Bank Director’s Acquire or Be Acquired Conference being held January 28-30, 2024 in Scottsdale, Arizona and Managing Partner Christopher Olsen is a featured speaker. Mr. Olsen will Mr. Olsen will moderate a ‘fireside chat’ with MIke Maddox, President & CEO, CrossFirst Bank and Lee Stuart, CEO, NBC Bancshares, LLC. Additionally, Mr. Olsen will be participating in a Point/Counterpoint Debate on the main stage.

The Acquire or Be Acquired Conference is a premier annual event attended by over 1,300 Bank Executives and Board Members that brings together key thought leaders from across the country to explore and discuss bank merger & acquisition strategies and related growth opportunities.

Olsen Palmer Advises Farmers & Merchants Union Bank in its Acquisition of Wisconsin River Bank

Jewel Box Financial Services, Inc. (“Jewel Box”), the holding company of Farmers & Merchants Union Bank (“FMUB”), and River Holding Company (“River Holding”), the holding company of Wisconsin River Bank (“WRB”), have jointly announced Jewel Box has acquired 100% of the capital stock of WRB from River Holding. Jewel Box will merge WRB into FMUB and the surviving bank will operate under the Farmers & Merchants Union Bank name.

Olsen Palmer LLC served as financial advisor to Jewel Box Financial Services, Inc.

Based on most recent reported financials, the combined institution has approximately $700 million in total assets and 9 banking offices.

Transaction Announcement (PDF)

Olsen Palmer Advises The Peoples Bank in its Agreement to be Acquired by Hanscom Federal Credit Union

Peoples Bancorp, Inc. (OTCPK: PEBC) ("Peoples"), the holding company for The Peoples Bank ("Peoples Bank"), and Hanscom Federal Credit Union ("HFCU" or "Hanscom") today announced that the companies have entered into a definitive purchase and assumption agreement under which Hanscom will acquire the majority of Peoples Bank's assets and liabilities in an all-cash transaction.

Olsen Palmer LLC served as financial advisor to Peoples Bancorp, Inc.

The transaction, which was unanimously approved by the Boards of Directors of both organizations, is expected to be completed in the second half of 2025, subject to all regulatory requirements and approvals, including approval of Peoples Bancorp. Inc.'s shareholders, as well as other customary closing conditions. Upon consummation of the transaction, Hanscom will have total assets of approximately $2.1 billion.

The transaction is structured as a purchase and assumption of the majority of Peoples Bank's assets and liabilities in an all-cash transaction. Following the closing of the transaction, Peoples will liquidate the remaining assets and liabilities not purchased by Hanscom, and will distribute the remaining cash to its shareholders in conjunction with, or prior to, the dissolution of the holding company and the bank. The cash distribution to Peoples' shareholders will be dependent upon various factors, which will be described in the Proxy Statement to be delivered to shareholders in the coming months. Hanscom also plans to retain all employees of Peoples Bank after the acquisition.

Transaction Announcement (PDF)