Peoples Community Bank in Greenville, Mo., has agreed to buy Cabool State Bank, also in Missouri.

The $337 million-asset Peoples and the $60 million-asset Cabool did not disclose financial terms. The deal is expected to close in the fourth quarter of 2015, pending regulatory and shareholder approval.

"My family is excited to see the bank that we have been a part of for decades become a part of a family-owned bank," Roger Lindsey, chief executive of Cabool State Bank, said in a news release.

Peoples Community has 14 branch offices in southern Missouri. Cabool State Bank, founded in 1913, operates a single branch in south central Missouri.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.