Commerce Bancshares Inc. of Kansas City. Mo., announced its second deal in less than two weeks Thursday, when it said it would buy West Pointe Bancorp Inc. of Belleville, Ill., for $80.9 million.
The $13.7 billion-asset Commerce said April 5 that it had reached an agreement to buy the $162 million-asset Boone National Savings and Loan Association in Columbia, Mo., for about $31 million.
The stock-and-cash deal for the $477 million-asset West Pointe is set to close in the third quarter, Commerce said. It would get five more branches and 25 automated teller machines in Illinois' St. Clair County, where it has one branch and two ATMs.
Commerce's last acquisition was in March 2001, when it paid $29.1 million for Breckenridge Bancshares Co., the $255 million-asset St. Ann, Mo., holding company of Centennial Bank.
