Dream First Bank in Syracuse, Kansas, has agreed to buy BancCentral in Alva, Oklahoma. The $689.7 million-asset Dream First did not disclose how much it will pay for the $268 million-asset BancCentral.
FB Financial in Nashville, Tennessee, has agreed to buy Southern States Bancshares in Anniston, Alabama. The $13 billion-asset FB Financial said in a news release that it will pay $381 million in stock for the $2.8 billion-asset Southern States. The deal, which is expected to close in the fourth quarter, priced Southern States at 157% of its tangible book value.
Mechanics Bancorp in Taunton, Massachusetts, and MountainOne Financial in North Adams, Massachusetts, have agreed to merge into a single mutual holding company. Mechanics, the MHC for Mechanics Cooperative Bank, and MountainOne, the MHC for MountainOne Bank, said their banks will continue to operate as separate entities with the same names, logos and brands. The new MHC will have nearly $1.9 billion in assets and 15 branches.
Community National Bank and Trust in Chanute, Kansas, has agreed to buy the parent company of Prairie Bank of Kansas in Stafford. Community National has $2.2 billion of assets. Prairie Bank has $128 million of assets. The deal is expected to close in the third quarter. The price wasn’t disclosed.
The $16.5 billion-asset Mechanics Bank in Walnut Creek, California, said in a news release that it will buy the $8 billion-asset HomeStreet in Seattle in an all-stock transaction. The proposed acquisition was announced four months after an agreement to sell HomeStreet to FirstSun Capital Bancorp in Denver fell through.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
