Mid-America Bankshares of Baldwin City, Kan., will buy a branch from Garnett Bancshares.
The deal extends
The $64 million-asset Mid-America will buy a Patriots Bank branch in Wellsville, Kan., for an undisclosed price. The branch has about $5 million in deposits; the deal will also increase Mid-America's total assets by $5 million, says Steve Layton, an executive vice president at Mid-America.
Layton says the deal should close around Dec. 1. "We felt like we already had a lot of customers in that area anyway," he says.
Garnett Bancshares, a $93 million-asset company in Garnett, Kan., will keep six branches. Mid-America, which will operate three branches after the deal is completed, did not discuss a whole-bank acquisition, Layton says.
