According to an article in Thursday's Salina Journal, First Bank Kansas has entered into an agreement to assume the deposits and acquire certain assets of Bank of America branches in Salina, Lindsborg, McPherson and Hutchinson. Bank of America branches in Hays and Great Bend will be acquired by First Bank Kansas' sister bank, First Kansas Bank of Hoisington.
Both banking corporations are working to ensure a smooth transition for Bank of America customers and employees, First Bank Kansas officials stated in a press release issued Wednesday.
Subject to regulatory approval, the transition is expected to be completed by mid-July.
First Bank Kansas is a privately owned community bank founded in 1961 and purchased by the John Sutherland family in 1983. The Sutherland family now has banks in Salina, Emporia, Hoisington and Parsons, and branches in Chanute, Erie, Independence, Oswego, Ellsworth, McPherson, Abilene, Claflin and Great Bend.
The Sutherland group will acquire 10 Bank of America branches, of which four will go to First Bank Kansas. This will increase First Bank Kansas' total assets to about $410 million.
Customers whose accounts will be transferring to First Bank Kansas do not need to do anything with their accounts at this time. They will be contacted well in advance of any changes.