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PBT Bancshares to buy Kanza Financial in Kansas

PBT Bancshares in McPherson, Kan., has applied to acquire Kanza Financial in Kingman, Kan.

PBT, the parent of the $1.2 million-asset Peoples Bank and Trust recently agreed to buy the holding company for the $270 million-asset Kanza Bank in a deal expected to close in the second quarter. The price wasn’t disclosed.

“We are excited by the opportunity to build upon our long-standing relationship with Kanza Bank through the merger of our organizations,” Tom Pruitt, Peoples Bank’s president and CEO, said in a press release. “We look forward to the value [Kanza and its leaders] will provide to our customers, both new and existing, as we expand our footprint within the Wichita market and central Kansas more broadly.”

Olsen Palmer and Armstrong Teasdale advised PBT. CC Capital Advisors and Stinson advised Kanza.

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The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

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About the author

Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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