Continuing its aggressive expansion in Kansas, Commerce Bancshares Inc. of Kansas City, Mo., announced Tuesday that it has agreed to acquire Union Financial Corp. The purchase price was not disclosed. Union Financial, with $160 million in assets, serves the city of Manhattan in eastern Kansas and controls about 47% of the deposit market.
The deal marks Commerce Bancshares' fourth in Kansas since January, when it agreed to buy Lenexa National Bank in a suburb of Kansas City. Also being purchased are Manufacturers State Bank of Leavenworth and First National Bank of Bonner Springs.