Docking Bancshares in Arkansas City, Kan., has agreed to buy Midland Financial in Newton, Kan.
Docking, the $339 million-asset parent of Union State Bank, did not disclose how much it will pay for the $136 million-asset Midland. The deal is expected to close by the end of this year.
Docking is a family-owned banking company.
“It was determined by both boards that this was a mutually beneficial opportunity,” the companies said in their announcement. “With this transaction [Midland] will be joining a financially strong and stable community banking organization that provides great customer service and cares about their employees and the communities they serve.”
Ron Land, Midland’s president, would become a market president for Union State.
