Central Bancompany in Jefferson City, Mo., plans to merge two of its banks to create the ninth-largest bank in the Kansas City market.
First National Bank of Missouri in Lee's Summit is to be merged with the Metcalf Bank on April 21, with the Metcalf Bank brand continuing. Customers will be notified in writing by March 20. The combined bank would have 16 branches and $800 million of assets.
Tom Fitzsimmons, First National's chairman and chief executive, said in a press release Thursday: "Our similarities make this combination a natural way to expand our franchise on both sides of the state line."
Last year Central acquired the $280 million-asset Metcalf Bancshares Inc. of in Overland Park, Kan., for $75 million. Metcalf was put on the block in 2006 after the death of Bart Cohen, its vice chairman and general counsel. Mr. Cohen's father founded the company in 1962.
The $8.5 billion-asset Central owns 14 community banks in four states.
