Gold Banc Corp., Leawood, Kan., announced it has deals to buy two Kansas community banks for $12.9 million in cash and stock.
The banking company said it would buy Farmers State Bancshares, Sabetha, Kan., for $8.5 million in cash and Tri-County Bancshares, Washington, Kan., for $1.73 million in cash and $2.7 million of stock. The deals, which are expected to close during the third quarter, would add about $92.5 million of assets to Gold Banc, a $566 million-asset bank holding company. The acquisitions would strengthen Gold Banc's presence in eastern and northeastern Kansas and fit its strategy of buying banks with the No. 1 or No. 2 market position in a county seat, said Michael W. Gullion, Gold Banc president and chief executive officer.