Bethany Bankshares in Bethany, Mo., has agreed to buy Bancshares of Glasgow in Glasgow, Mo.
Bethany, the holding company of the $1.6 billion-asset BTC Bank, said in a press release that it expects to buy the parent of the $61.5 million-asset Tri-County Trust Co. in the second quarter. The price wasn’t disclosed.
“We are excited to continue our strategic growth across Missouri,” Doug Fish, BTC Bank’s president and CEO, said in the release. Tri-County Trust “serves a strong rural community that aligns with our mission and values, and this partnership further strengthens our ability to bring community banking to more people, families, and businesses throughout the region.”
After the sale, and with the recent announcement of its Tipton Latham Bank, N.A. acquisition, BTC Bank will operate 29 locations throughout Missouri and southern Iowa, along with a mobile branch serving rural communities. Founded in 1919, BTC Bank has grown to be the number one agricultural bank in Missouri, as recognized by the Independent Community Bankers of America (ICBA), with total assets exceeding $1.5 billion.
Fenimore Kay Harrison advised Bethany Bankshares. Stinson advised Bancshares of Glasgow.