Emprise Financial Corp. in Wichita said Monday that it had bought the $274 million-asset Prairie Capital Inc. in Augusta, Kan., for $25.9 million in cash.
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The acquisition makes Emprise No. 4 in deposit share in the Wichita metropolitan market, up one spot, and boosts its assets to just above $1 billion. It also gives Emprise, the parent of Emprise Bank, 11 more branches to go along with its 29 in nine counties.
Prairie Capital is the parent of the 88-year-old Prairie State Bank, whose branches are expected to be converted to Empire branches by Nov. 10.
Emprise said that Prairie State's three Augusta branches will be managed locally and that it has named Galen Nelson as president of that market.
