Edmonton Bancshares in Edmonton, Ky., has agreed to buy Sumner Financial in Gallatin, Tenn.
Edmonton, the parent for the $733 million-asset Edmonton State Bank, said in a press release that it will pay $26.82 a share for the parent of the $234 million-asset Sumner.
Sumner has three branches.
The acquisition “expands our market reach into the Gallatin, Hendersonville and Nashville areas, and continues fulfillment of our long-term strategic goals of providing greater customer convenience and service to all our customers,” David Thompson, Edmonton State Bank’s president, said in the release.
Sumner agreed in 2013 to sell itself to HopFed Bancorp in Hopkinsville, Ky., but the deal was terminated later that year.
Edmonton was advised by Piper Sandler and Frost Brown Todd. Sumner was advised by Performance Trust Capital Partners and Thompson Burton.