First Financial in Arthur, N.D., has agreed to buy HSB Financial in Harwood, N.D.
The parent of the $515 million-asset BankNorth did not disclose the price it will pay for the parent of the $47 million-asset Harwood State Bank. The deal is expected to close this summer.
“This purchase will be a great fit for both banks and our customers,” BankNorth CEO James Williams III told BankBeat.
“Both banks are family-owned and have a long history in the heart of prosperous agricultural and commercial areas,” he added. “We also both employ a dedicated, energetic staff driven by a philosophy of taking great care of our customers and supporting rural communities.”
Oak Ridge Financial advised HSB Financial.