Heartland Bank in Geneva, Neb., has agreed to buy State Bank of Odell in Nebraska.
The $807 million-asset Heartland filed its applications to acquire the $32 million-asset State Bank on Dec. 11. The deal is expected to close in the first quarter; the price wasn’t disclosed.
“We are excited to have the opportunity to expand our presence in Nebraska and extend a warm welcome to State Bank of Odell’s valued customers, dedicated associates and close-knit communities,” John Wilkins, Heartland’s chairman and CEO, said in a press release.
“We are committed to relationship banking, family ownership, and building strong connections with our customers and communities,” Wilkins added.
“We are excited to be joining the Heartland Bank family, as they are a family-owned, community-focused bank and committed to local decision-making,” James Stanosheck, State Bank’s president, said in an announcement on the bank’s website. “Our principles align closely with Heartland Bank’s core values, and we’re enthusiastic about the possibilities this partnership offers.”