Midwest BankCentre in Lemay, Mo., has agreed to buy Bremen Bank & Trust in Hazelwood, Mo.
The $1.6 billion-asset Midwest did not disclose the price of the all-cash deal, which is expected to close midsummer.
Midwest is privately held and the $175 million-asset Bremen's holding company, Bremen Bancorp, is thinly traded.
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Enterprise Financial Services in Clayton, Mo., has acquired a $21 million loan portfolio as part of its formation of an aircraft financing unit.
January 25 -
The $3.8 billion-asset First Busey said in a press release Thursday that it will pay $210.7 million, or $17.24 a share, in stock for the $1.5 billion-asset Pulaski.
December 3 -
James Watson, the bank's president, will become CEO on Oct. 1, the $1.1 billion-asset company said Thursday.
September 19
Bremen, founded in 1868, has four branches around St. Louis. Bremen opted to sell because of the challenges of running a small bank, Carl Fruend, the bank's president and chief executive, said in a press release.
"Changes in the banking environment have made it hard for small local banks to compete," Fruend said.
It would be the second acquisition in the past year for Midwest. It bought Southern Commercial Bank in St. Louis last April.