A Salina bank is growing, and acquiring four new properties.
First Bank Kansas has entered into an agreement with Bank of America to assume the deposits and acquire certain assets of Bank of America locations in Salina, Lindsborg, McPherson and Hutchinson. First Bank Kansas already has locations in Salina, Ellsworth, McPherson and Abilene.
First Bank Kansas made the announcement Wednesday morning.
Bank President Kent Buer states, “This growth will allow First Bank Kansas to better serve the communities in which our customers live and work as well as expansion opportunities in new areas of Kansas. We look forward to providing our new customers with the exceptional service our existing customers have come to know and expect.”
Both banking corporations will be working closely together to ensure a smooth transition for customers and also for employees. Bank of America employees at these locations will be offered positions with First Bank Kansas.
The sale is subject to regulatory approval. The bank anticipates the transaction to be complete in July 2014.
Customers, whose accounts will be transferring to First Bank Kansas, do not need to do anything at this time. Both banking companies will be contacting them well in advance of any changes with their accounts.
First Bank Kansas will work to provide its new customers with everything they need to continue their banking with little or no interruption.
First Bank Kansas is a privately owned community bank which was founded in Salina in 1961. The pending acquisition will increase the bank’s total assets to approximately $410 million.
First Bank Kansas is part of a group of banks owned by the Sutherland family. The Sutherland family owns banks in Salina, Emporia, Hoisington and Parsons with branches in Chanute, Erie, Independence, Oswego, Ellsworth, McPherson, Abilene, Claflin and Great Bend, Kansas. As a group, they are acquiring ten Bank of America branches in Great Bend, Hays, Lindsborg, McPherson, Caney, Coffeyville, Independence, Hutchinson, Salina and Emporia.