Olsen Palmer Advises Williamsville State Bank & Trust in Its Agreement to be Acquired by Land of Lincoln Credit Union

Williamsville State Bank & Trust (“Williamsville”), a wholly-owned subsidiary of WSB Financial Ltd., and Land of Lincoln Credit Union (“Land of Lincoln”), jointly announced today that they have entered into a definitive agreement whereby Land of Lincoln will purchase substantially all of the assets and liabilities of Williamsville in an all-cash transaction.

Olsen Palmer LLC served as financial advisor to WSB Financial Ltd. and Williamsville State Bank & Trust.

While the agreement is contingent on obtaining regulatory and WSB Financial Ltd. stockholder approvals, the proposed transaction has been unanimously approved by the boards of directors of both institutions.

The transaction is expected to close in the first half of 2026.  Following the completion of the transaction, Williamsville will liquidate and distribute its remaining assets to its stockholders. When the purchase is complete, Land of Lincoln will have $576 million in assets and increase its footprint to a total of 18 branches.

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

Transaction Announcement (PDF)

Olsen Palmer Advises Heritage Bank in its Acquisition of Fidelity State Bank and Trust Company

Topeka, Kansas-based Heritage Bancshares, Inc., the holding company of Heritage Bank (together, “Heritage”), and Topeka, Kansas-based Fidelity Kansas Bankshares, Inc., the holding company of Fidelity State Bank and Trust Company, announced today that Heritage has acquired Fidelity State Bank and Trust Company. Fidelity State Bank and Trust Company will be merged with and into Heritage Bank with Heritage Bank as the surviving entity.

Olsen Palmer LLC served as financial advisor to Heritage Bancshares, Inc. in connection with this transaction.

With the consummation of the transaction, Heritage will have greater than $300 million in total assets and top-10 deposit market share in the Topeka, KS MSA.

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

Transaction Announcement (PDF)

Merchants & Farmers Bank of Greene County Has Agreed to Sell 1 Branch

Merchants & Farmers Bank of Greene County (“Merchants & Farmers”) and AOD Federal Credit Union (“AOD”) announced today that they have entered into an agreement whereby AOD will acquire the Prattville, AL branch of Merchants & Farmers. Under the terms of the agreement AOD will acquire the physical location and most of the deposit and loan accounts associated with the branch; as of the date of this announcement the deposits and loans to be conveyed by Merchants & Farmers to AOD are approximately $15 million and $10 million, respectively. Merchants & Farmers will continue to operate through its locations in west Alabama.

Olsen Palmer LLC served as financial advisor to Merchants & Farmers Bank of Greene County.

The proposed transaction is subject to customary closing conditions as well as approval by applicable regulatory authorities. It is expected to be completed by the first quarter of 2026.

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

Transaction Announcement (PDF)

Wyoming Bank & Trust Has Been Acquired by First National Bank

Wyoming Bank & Trust, subsidiary of Cheyenne, Wyoming based Farmers State Bankshares, Inc., has been acquired by First National Bank, subsidiary of Capitol Bancorporation, Inc., based in Fort Pierre, South Dakota.

Olsen Palmer LLC served as financial advisor to Farmers State Bankshares, Inc.

The acquired branches now operate under the name First Wyoming Bank & Trust, Branch of First National Bank. First National Bank now maintains 18 total locations in South Dakota, Colorado, and Wyoming.

Wyoming Bank & Trust had $318 million in total assets as of June 30, 2025 and full-service branches in Cheyenne and Burns, Wyoming. Based on most recent reported financials, the combined institution has approximately $2.0 billion in total assets.

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

Transaction Announcement (PDF)

The New Washington State Bank Has Agreed to Acquire State Bank of Medora

New Independent Bancshares, Inc. (“New Independent”), parent company of The New Washington State Bank (“NWSB”), and State Bank of Medora, today jointly announced the signing of a definitive merger agreement whereby New Independent will acquire State Bank of Medora.

Olsen Palmer LLC serves as financial advisor to New Independent Bancshares, Inc., parent of The New Washington State Bank.

Based on the most recently reported financials, the combined institution is expected to have approximately $725 million in total assets and 11 banking offices located in Southern Indiana. The transaction, which has been approved by the Board of Directors of each company and is subject to shareholder and regulatory approval, is expected to close the second half of 2025.

Olsen Palmer remains a top 3 bank M&A advisor nationwide based on the number of transactions advised upon since 2020, according to S&P Global.

Transaction Announcement (PDF)