Holly Springs Bancshares in Mississippi to buy neighboring bank

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Holly Springs Bancshares in Holly Springs, Miss., has agreed to buy Marshall Financial in Byhalia, Miss.

The $257 million-asset Holly Springs did not disclose how much it will pay for the $79 million-asset parent of Citizens Bank. The deal is expected to close in the fourth quarter.

Holly Springs said it would pay cash for Marshall, along with a special dividend to the seller’s shareholders.

Tracy Davidson, Citizens’ president and CEO, will join Holly Springs’ management team.

Olsen Palmer advised Marshall.

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