Conway Bank Has Agreed to be Acquired by The First Security Bank

Norcon Financial Corp., the holding company of Conway Bank, announced the signing of a definitive agreement with Overbrook Bankshares, Inc., the holding company to First Security Bank, whereby Overbrook Bankshares, Inc. will acquire Norcon Financial Corp. through the merger of Norcon Financial Corp. with and into Overbrook Bankshares, Inc., with Overbrook Bankshares, Inc. continuing as the surviving entity. Immediately following the merger, Conway Bank will be merged with and into The First Security Bank, with The First Security Bank continuing as the surviving bank.

Olsen Palmer LLC served as financial advisor to Norcon Financial Corp. in connection with this transaction.

The transaction has been approved by the board of directors of each company and is expected to close in the first half of 2026, subject to customary closing conditions including shareholder and regulatory approvals.

Olsen Palmer is the #1 sell-side bank M&A advisor nationwide — and top 3 overall — based on the number of transactions advised upon in 2025, according to S&P Global.

Transaction Announcement (PDF)

The Potter State Bank Has Agreed to Merge with Platte Valley Bank

Enevoldsen Management Company and its banking subsidiary The Potter State Bank of Potter has entered into a definitive agreement to merge with Platte Valley Financial Services Companies, Inc., the holding company of Platte Valley Bank. Platte Valley Bank will assume all deposits and loans, as well as the full-service branch locations.

Olsen Palmer LLC served as financial advisor to Enevoldsen Management Company.

This partnership, unanimously approved by the Boards of Directors of Platte Valley Bank and Enevoldsen Management Company, remains subject to regulatory approval and customary closing conditions. The transaction is expected to close in Q1 2026.

Olsen Palmer is the #1 sell-side — and a top 3 overall — bank M&A advisor nationwide based on the number of transactions advised upon in 2025, according to S&P Global.

Transaction Announcement (PDF)

The Tipton Latham Bank, N.A. Has Agreed to be Acquired by BTC Bank

Latham Bancshares, Inc., the holding company of The Tipton Latham Bank, N.A., and Bethany Bankshares, Inc., the holding company of BTC Bank, have jointly announced that they have entered into a definitive agreement pursuant to which Bethany Bankshares, Inc. will acquire Latham Bancshares, Inc. through a series of mergers, with Bethany Bankshares, Inc. continuing as the surviving corporation. Immediately after the acquisition of Latham Bancshares, Inc., The Tipton Latham Bank, N.A. will be merged with and into BTC Bank, with BTC Bank continuing as the surviving bank.

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

The transaction has been approved by the board of directors of each company and is expected to close in the second quarter of 2026, subject to customary closing conditions, including shareholder and regulatory approvals. Based on most recently reported financials, the combined institution is expected to have approximately $1.7 billion in assets across 26 banking offices.

Olsen Palmer is the #1 sell-side — and a top 3 overall — bank M&A advisor nationwide based on the number of transactions advised upon in 2025, according to S&P Global.

Transaction Announcement (PDF)

First Bank of Alabama has Agreed to Acquire First Fidelity Bank

FirstBanc of Alabama, Inc. (“FBAI”), parent company of First Bank of Alabama, and FBDC Financial Corp. (“FBDC”), parent company of First Fidelity Bank, announced today the signing of a definitive agreement whereby FBDC will be merged with and into FBAI; additionally, First Fidelity Bank will be merged with and into First Bank of Alabama as part of the transaction. FBAI will pay $20.5 million in the aggregate, with 60% of the purchase price to be paid in FBAI stock and 40% to be paid in cash. Legacy FBAI shareholders will own approximately 90% of the combined institution and legacy FBDC shareholders will own roughly 10%. In connection with the transaction, one director of FBDC will join the boards of FBAI and First Bank of Alabama.

Olsen Palmer LLC served as financial advisor and issued a fairness opinion to FirstBanc of Alabama, Inc.

After the transaction, First Bank of Alabama will have total assets of approximately $1.3 billion. The transaction has been unanimously approved by the Boards of both institutions but remains subject to customary conditions, including the approval of FBDC Financial Corp.’s shareholders and the receipt of required regulatory approvals.

Olsen Palmer is the #2 sell-side bank M&A advisor nationwide — and top 3 overall — based on total deal count since 2020, according to S&P Global.

Transaction Announcement (PDF)

Olsen Palmer Advised The New Washington State Bank in its Acquisition of State Bank of Medora

New Independent Bancshares, Inc., parent company of The New Washington State Bank (“NWSB”), and State Bank of Medora jointly announced New Independent has acquired State Bank of Medora.

Olsen Palmer LLC served as financial advisor to New Independent Bancshares, Inc.

With the consummation of the transaction, NWSB has 11 banking offices located in Southern Indiana and approximately $725 million in total assets. NWSB is set to further expand their footprint with the opening of a de novo branch by year end. Financial terms of the transaction were not disclosed.

Olsen Palmer is the #2 sell-side bank M&A advisor nationwide — and top 3 overall — based on total deal count since 2020, according to S&P Global.

Transaction Announcement (PDF)