ST. LOUIS -- Roosevelt Financial Group Inc. said it plans to buy Brookside Savings Bank, Kansas City, Mo., for $5 million.
Roosevelt said that in addition to paying the purchase price it would issue to shareholders of Brookside's privately held parent, Hawthorn Financial Group Inc., options to buy a total of 50,000 of its common shares at $20 each. The options would have a seven-year term.
Brookside has assets of $218 million. The transaction is expected to close before the end of the year.