Exchange National Bancshares of Jefferson City, Mo., agreed last week to buy a hometown competitor, CNS Bancorp, for $25.5 million of cash and stock.

Under terms of the deal, CNS shareholders are to get $8.80 in cash and 0.15 share of Exchange stock for each share they own. The deal, valued at $17.80 per share, is for 1.17 times CNS' book value and 34.23 times its trailing earnings.

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