Sandhills State Bank in Bassett, Neb., has agreed to buy Bank of Keystone in Keystone, Neb.
The $166 million-asset Sandhills said in a press release Monday that it expects to complete the acquisition of the $68 million-asset Bank of Keystone by this fall. The price was not disclosed.
"We see this as an exciting opportunity for Sandhills … to ensure the continuance of economic independence with local financial decision making for the Sandhills region, just as the Bank of Keystone has done since 1909," David Gale, Sandhills' chief executive, said in the release. "The similarities between the two organizations are many."
Sandhills said it plans to keep all four of Bank of Keystone's branches open, while retaining all of the seller's employees.