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)

Signature Bank Has Agreed to be Acquired by First Community Bank

Signature Bank of Georgia (OTCPK: SGBG) (“Signature”) today announced the signing of a definitive agreement with First Community Corporation   (NASDAQ: FCCO) (“First Community”), parent company of First Community Bank, under which Signature will be acquired by First Community in an all-stock transaction.

Olsen Palmer LLC served as financial advisor and issued a fairness opinion to Signature Bank of Georgia in connection with this transaction.

Per the merger agreement, Signature shareholders will have the right to receive 0.6410 shares of First Community common stock for each share of Signature common stock upon the closing of the transaction. Based on First Community’s closing price of $24.84 per share as of July 11, 2025, the merger consideration to Signature shareholders has a total current value of approximately $41.6 million.

The merger agreement has been unanimously approved by the Board of Directors of each company.  Closing of the transaction, which is expected to occur no later than the first quarter of 2026, is subject to customary conditions, including regulatory approval and approval by the shareholders of Signature and First Community.

On a pro forma basis, the combined company is expected to have approximately $2.3 billion in total assets, $2.0 billion in total deposits, and $1.5 billion in total loans at closing.  The transaction will create a 23-office banking company with locations spanning the Midlands, Aiken, Upstate, and Piedmont Regions of South Carolina, the Augusta, Georgia area, and now the Atlanta-Sandy Springs-Roswell, Georgia MSA.

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)

Magnolia State Bank Has Been Acquired by BankFirst Capital Corporation

The Magnolia State Corporation (“Magnolia”), the parent company of Magnolia State Bank, today announced it has been acquired by BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent company of BankFirst Financial Services.

Olsen Palmer LLC served as financial advisor to The Magnolia State Corporation.

The acquisition results in BankFirst having 52 offices serving Mississippi and Alabama, with total assets of approximately $3.2 billion, gross loans of approximately $2.2 billion, and total deposits of approximately $2.8 billion.

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

Transaction Announcement (PDF)

First National Bank Has Agreed to be Acquired by Investar Holding Corporation

Wichita Falls Bancshares, Inc. (“Wichita Falls”), the holding company of First National Bank ($1.6 billion in assets), and Investar Holding Corporation (“Investar”) (NASDAQ: ISTR), the holding company of Investar Bank, N.A. ($2.7 billion in assets), jointly announced today that they have entered into a definitive agreement pursuant to which Investar will acquire Wichita Falls for cash and stock consideration valued at approximately $85.5 million.

Olsen Palmer LLC served as financial advisor and issued a fairness opinion to Wichita Falls Bancshares, Inc.

The definitive agreement has been unanimously approved by the boards of directors of Investar and Wichita Falls and the closing of the transaction, which is expected to occur in the fourth quarter of 2025, is subject to customary conditions including shareholder and regulatory approvals.

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

Transaction Announcement (PDF)

Olsen Palmer Advises Merit Bank in its Sale of 2 Branches to Family Savings Credit Union

Family Savings Credit Union (“Family Savings”) and Merit Bank (“Merit”) announced that Family Savings has acquired the Valley Head and Ider branches of Merit. Merit will continue to operate as an independent community bank through its headquarters location in Huntsville.

Olsen Palmer LLC served as financial advisor to Merit Bank.

Family Savings has acquired the physical locations and most of the deposit and loan accounts associated with the branches; the deposits and loans to be conveyed by Merit to Family Savings are approximately $21 million and $3 million, respectively.

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

Transaction Announcement (PDF)