Kansas continues to be a hotbed for M&A activity.
Morrill & Janes Bank and Trust in Merriam has agreed to buy United Bank of Kansas in Lenexa. United will be merged with Morrill and operate as a branch, Morrill said in a press release.
Kansas has been one of the busier states for bank deals this year. In the first six months of the year, eight deals were announced in the state, tying it for second with California. Texas was in first with 14 deals. One Kansas deal later was canceled.
Many of the Kansas deals involve small banks, and this one is no different. United, which is primarily controlled by longtime Kansas City banker Tom Burcham and his family, has $114 million of assets and three branches. Morrill has about $650 million of assets and eight branches.
The financial terms of the deal, which is expected to be completed in the fourth quarter, were not disclosed.