First State Bancshares in Farmington, Mo., has agreed to buy Central Bank in Lebanon, Mo.
The $1.7 billion-asset First State expects its deal for $264 million-asset Central to close before the end of the year. Financial terms were not disclosed.
The combined company will operate 50 branches in Missouri. Central Missouri Shares, the holding company for Central Bank, runs five branches in Lebanon and Conway, Mo.
First State's most-recent whole-bank acquisition was for Bank Star of the LeadBelt in Park Hills, Mo., which it bought in January 2013. First State acquired nine branches from Bank of America in November 2012.
Sandler O'Neill & Partners advised First State and Barack Ferrazzano Krischbaum & Nagelberg was its legal counsel. Donnelly Penman & Partners advised Central and Howard & Howard was legal counsel.