Plains Bancshares in Plains, Kan., has applied with regulators to buy Alden Bancshares in Sterling, Kan.
The parent of the $381.4 million-asset Plains State Bank also plans to rebrand as Bank of the Plains on June 20. The bank will pay an undisclosed amount of common stock to buy the parent of the $21.9 million-asset Alden State Bank.
“Our two banks bring a rich history of community support having a foundation of strong capital, leadership and focus on solid customer service,” Gene Dikeman, Plains Bancshares’ president and CEO, said in the release.
“We are fortunate to bring the resources of our two banks together creating opportunities for growth and expansion in our communities,” Dikeman added.
The deal is expected to close in the third quarter.