Overbrook Bankshares agrees to merge with Norcon Financial

Overbrook Bankshares, the holding institution of The First Security Bank, has reached an statement to get Norcon Financial, the holding institution of Conway Bank.

Under the merger agreement, Norcon Financial volition merge with and into Overbrook Bankshares, and Conway Bank volition merge with and into The First Security Bank.

Overbrook Bankshares and First Security Bank volition beryllium the surviving entities.

The boards of directors of some slope holding companies approved the transaction.

It is expected to adjacent successful the archetypal fractional of 2026, taxable to customary closing conditions, including regulatory and shareholder approval.

The combined entity would person astir $225m successful full assets and volition run 8 banking offices crossed the Kansas City, Topeka, and Wichita metropolitan areas.

Fenimore Kay Harrison served arsenic ineligible advisors to Overbrook Bankshares, portion Olsen Palmer acted arsenic the fiscal advisor and Stinson arsenic ineligible counsel to Norcon Financial.

Overbrook Bankshares president Kent Needham said: “We are excited to grow our committedness to Kansas banking done the merger of our 2 organisations.

“The squad astatine Conway Bank has done an fantabulous occupation gathering relationships with their clients and communities, and it is our program to deepen those existing ties.

“Supporting our section communities remains astatine the bosom of our mission, and this concern with Conway Bank is simply a important milestone successful our travel to service them better.”

Established successful 1897, First Security Bank is based successful Overbrook, Kansas, and operates 4 branches, with full assets of much than $100m.

Based successful Conway Springs, Kansas, Conway Bank was founded successful 1886 and operates 4 subdivision locations and manages astir $125m successful full assets.

Conway Bank president and CEO Joe Rottinghaus said: “We look guardant to teaming up with The First Security Bank.

“This transaction positions america for the aboriginal of banking. We're combining the strengths of 2 well-respected organisations to make caller opportunities for our customers, employees, and the communities we serve.

“Partnering with The First Security Bank allows america to proceed the bequest of section determination making, narration banking and committedness to assemblage portion providing greater entree to products and services.”

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