Cornerstone Bank in York, Neb., has agreed to acquire Guide Rock State Bank in Nebraska.
The $1.4 billion-asset Cornerstone will buy the $29 million-asset Guide Rock for an undisclosed amount. The merger is expected to close in September, pending regulatory and shareholder approval.
Cornerstone, a subsidiary of First York Ban Corp., will operate 37 branches in Nebraska after the acquisition. The deal is Cornerstone's second this year, after in February it closed its acquisition of North Loup Valley Bank in North Loup, Neb. Cornerstone also acquired Bank of Marquette in Nebraska in April 2014.
Guide Rock, which was founded in 1906, operates two branches in the south central Nebraska towns of Edgar and Guide Rock.