Olsen Palmer Moderates M&A Master Class at Bank Director's Acquire or Be Acquired Conference
Olsen Palmer was pleased to moderate a M&A Master Class at Bank Director's Acquire or Be Conference with Brad Elliott of Equity Bank and Kurt Knutson of Freedom Bank.
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.
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.
Olsen Palmer Advises First Citizens in Sale to Park National for $324MM in Stock
First Citizens Bancshares, Inc. (OTCEM: FIZN, $2.7 billion in assets, “First Citizens”) has been acquired by Park National Corporation (NYSE: PRK, $9.8 billion in assets, “Park”).
Olsen Palmer LLC initiated the transaction, served as exclusive financial advisor to First Citizens Bancshares, Inc., and issued a fairness opinion to its Board of Directors.
The aggregate value of the all-stock transaction was approximately $324.1 million, based on the fixed exchange ratio of 0.52 and Park’s most recent closing price. With the completion of the combination, First Citizens shareholders comprise approximately 11% of the outstanding shares of the combined company.
The aggregate consideration valued First Citizens at a price-to-tangible book multiple of 1.85x and a price-to-earnings (LTM) multiple of 15.1x.
First Citizens CEO Jeff Agee has joined Park’s Board of Directors. Additionally, Park is maintaining First Citizens’ two local community advisory boards.
This is Park’s largest ever bank acquisition and its first in 7 years. With the transaction, Park enters a new state banking market and crosses over the $10 billion asset threshold.
Finally, we are pleased to report that Olsen Palmer is the #1 ranked sell-side bank M&A advisor nationwide – and top 3 overall – based on transaction count in 2025, while the firm’s Managing Partner Christopher Olsen is the #1 individual bank M&A advisor nationwide by deal count in 2025, the 7th consecutive year he has led the industry, according to S&P Global.