Missouri's Citizens Bancshares has a deal to buy MBLA Financial Corp. of Macon, Mo., for $31 million in cash. The price is 1.1 times MBLA's book value and 16.7 times its earnings.

Citizens, based in Chillicothe, is the parent of three community banks with 20 branches in the Show-Me State. The company has about $800 million of assets.

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