Farmers State Bank of Oakley, Kansas, has applied to buy Kaw Valley State Bank in Eudora, Kan.
The $300.8 million-asset Farmers State applied with the Federal Deposit Insurance Corp. on May 30 to buy the $73 million-asset Kaw Valley. The price hasn’t been disclosed.
The deal is expected to close in the next three or four months.
The decision to sell “was not made lightly,” Kaw Valley posted on its social media. “The Hoover family spent a lot of time considering what would be best for both the community and the bank’s future. By becoming part of a larger, yet still community-focused institution, we will be able to offer more products and services, without losing the small-town feel you have come to know and trust.”