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Heartland Financial in Dubuque, Iowa, has agreed to buy Premier Valley Bank in Fresno, Calif.
May 29 -
American State Bancshares in Wichita, Kan., has agreed to acquire three Kansas branches from Simmons First National.
May 28 -
Southwest Bancorp in Stillwater, Okla., has agreed to buy First Commercial Bancshares in Edmond, Okla.
May 27
City Holding in Charleston, W.Va., has agreed to buy three branches in Kentucky from American Founders Bank in Lexington.
The deal
The $293 million-asset American Founders is selling all three of its branches in Lexington, which will give the $3.6 billion-asset holding company for City National Bank of West Virginia its first presence in the area.
"The Lexington market is clearly one of the best markets in this region of the country," City chief executive Skip Hageboeck said in a Monday news release. "We have had an interest in expanding into this area for a long time."
With the acquisition, City will operate 11 branches in Kentucky. Its current eight-branch network is entirely in Eastern Kentucky.
As a result of the deal, American Founders will exit Lexington, where it's headquartered. American Founders will retain two branches in Louisville, Ky. Bill Craycraft, president of American Founders, will become City's Lexington market president.
Boenning & Scattergood is financial adviser to City and Dinsmore & Shohl is its legal adviser. Austin Associates is American Founders' financial adviser, and Wyatt, Tarrant & Combs is its legal adviser.
