Olsen Palmer June 3, 2021 Tri-State Bank (“Tri-State”) and Liberty Bank and Trust Company and its parent holding company, Liberty Financial Services, Inc. (collectively, “Liberty”), jointly announced their agreement whereby Tri-State Bank will be acquired by Liberty Bank and Trust Company in an all-cash transaction. Both Liberty and Tri-State are Minority Depository Institutions as defined by the Federal Deposit Insurance Corporation. Olsen Palmer LLC served as exclusive financial advisor and issued a fairness opinion to Tri-State Bank. With the proposed transaction, Liberty will have approximately $965 million in assets and offices in 12 cities on a pro forma basis. The transaction has been approved by the Board of Directors of both companies but remains subject to Tri-State Bank’s shareholder approval and customary regulatory approvals. The transaction is expected to close before the end of 2021. Olsen Palmer LLC is the #1 community bank M&A advisor nationwide according to S&P Global, as ranked by the number of whole-bank sell-side M&A transactions advised upon over the last twelve months in which seller had total assets less than $5 billion. Transaction Announcement (PDF) Share Newer Post OLSEN PALMER SPONSORS TENNESSEE BANKERS ASSOCIATION 131st ANNUAL MEETING Older Post OLSEN PALMER ADVISES FIRST BANK OF LINDEN IN ITS SALE TO ALABAMA ONE OLSEN PALMER, 1501 M STREET NORTHWEST, SUITE 250, WASHINGTON, DC, 20005, UNITED STATES2028083306INFOR@OLSENPALMER.COM © OLSEN PALMER LLC. ALL RIGHTS RESERVED. BUSINESS CONTINUITY PLAN PRIVACY TERMS