PLAINS and STERLING, Kan. — Plains State Bank/Plains Bancshares, headquartered in Plains, Kansas and The Alden State Bank/Alden Bancshares, Inc., headquartered in Sterling, Kansas, announced their merger agreement.
The announcement was made jointly by Gene Dikeman, President & CEO of Plains State Bank and J. Todd Rowland, President of Alden State Bank.
Plains State Bank plans to acquire all stock of Alden State Bank, at which time Alden will be merged into Plains State Bank.
According to Plains State Bank, President & CEO, Gene Dikeman, “Our two Banks bring a rich history of community support having a foundation of strong capital, leadership and focus on solid customer service. We are fortunate to bring the resources of our two banks together creating opportunities for growth and expansion in our communities.”
Plains State Bank currently has offices in Plains, Liberal, Great Bend, Harper, Anthony, Salina, Lakin and Hutchinson, Kansas and will be known as Bank of the Plains following a name change on June 20th. Alden State Bank has an office in Sterling, Kansas.
Following regulatory approval and the final merger transaction, Alden State Bank’s name will change to Bank of the Plains.
According to Alden State Bank, President J. Todd Rowland, “We are very excited about the growth opportunities that the proposed merger with Plains State Bank brings to the table. Our two family-owned organizations share strong cultural and business ethics. We both are committed to our customers and our communities, and this partnership will only serve to enhance our commitment to both. We look forward to merging our bank team with the Plains State Bank team, and we will continue to serve our customers with the same, familiar faces they are accustomed to.”
Completion of this merger is expected to occur in the third quarter of 2023, pending receipt of all required regulatory and shareholder approvals. Both Plains State Bank and Alden State Bank are equal housing lenders and members of the FDIC.
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