Mercantile Bancorp. said it has completed its purchase of Roosevelt Financial Group.

Mercantile, which has assets of about $30 billion, has the biggest deposit market share in Missouri, with 23%.

Roosevelt Financial, a thrift holding company, which like Mercantile was headquartered in St. Louis, had $7.8 billion of assets and 83 branches in Missouri, Kansas, and Illinois.

The transaction, valued at $1.07 billion, was announced Dec. 23.

Mercantile said it expects to take an after-tax, merger-related charge of about $40 million for the second quarter.

Stockholders got about 68% of the purchase price in stock and 32% in cash-equivalent to 0.2853 share of Mercantile and $7.10 in cash per Roosevelt share.

The combined company has 531 locations in Missouri, Iowa, Kansas, Illinois, and Arkansas.

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