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Mergers & Acquisitions - Page 2

First Citizens Bank and Entegra Financial Corp. Agree to Merge

First Citizens Bank & Trust Co. and Entegra Financial Corp. announced a definitive merger agreement providing for the acquisition of Franklin, N.C.-based Entegra Financial Corp. by First Citizens Bank, which is headquartered in Raleigh, N.C. Entegra provides deposit and loan services through its subsidiary, Entegra Bank.

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Missouri’s Central Bancompany and Liberty Bancorp Announce Merger

Central Bancompany Inc., based in Jefferson City, Mo., has agreed to acquire Liberty Bancorp Inc., the holding company for BankLiberty in the Kansas City suburb of Lee’s Summit, Mo. Under the terms of the merger agreement, BankLiberty will also be merged into Central Bancompany’s affiliate bank, Central Bank of the Midwest, also headquartered in Lee’s Summit.

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HomeStar Bank to Become Part of Midland States Bank

HomeStar Bank and Financial Services in Manteno, Ill., is being acquired by Midland States Bank in Effingham, Ill. The banks currently expect the merger to occur in October.

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North Shore Bank and Beverly Bank to Merge in Massachusetts

Massachusetts companies North Shore Bank, based in Peabody, and Beverly Bank announced plans to merge, creating an organization with more resources to better serve the people, businesses and communities north of Boston. Under the terms of the definitive merger agreement, Beverly Financial and Beverly Bank will merge with and into North Shore Bancorp and North Shore Bank, respectively.

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Glacier Bancorp Announces Acquisition of Heritage Bancorp in Nevada

Montana’s Glacier Bancorp Inc., based on Kalispell, has agreed to acquire Heritage Bancorp, the bank holding company for Heritage Bank of Nevada, a community bank based in Reno. The acquisition marks Glacier’s 22nd announced acquisition since 2000 and it’s 11th announced transaction in the past six years. Heritage Bank provides banking services to individuals and businesses throughout northern Nevada with seven banking offices located in Carson City, Gardnerville, Reno and Sparks. As of Dec. 31, 2018, it had total assets of $829.7 million, gross loans of $595.6 million and total deposits of $720.5 million.

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