HNB Bancorp in Hannibal, Mo., has agreed to buy Northeast Missouri Bancshares in Louisiana, Mo.
The parent of the $649.9 million-asset HNB National Bank said in a press release that it expects to complete the purchase of Northeast Missouri in the second quarter. The price wasn’t disclosed.
Northeast Missouri is the holding company for the $137.2 million-asset Mercantile Bank of Louisiana, Mo.
“We view this as a tremendous opportunity for both institutions,” John Zimmer, HNB’s president. “We both have a long history in community banking, and we share a commitment to our customers, employees and communities. The principals of the banks have known each other for a number of years, and we are excited for the expanded opportunities in the communities served by Mercantile.”
Northeast Missouri was advised by Forvis Capital Advisors and Polsinelli. HNB was advised by Shumaker, Loop & Kendrick.