Heritage Bancshares will acquire fellow Topeka, Kan.-based Fidelity Kansas Bankshares in a stock purchase agreement.
Announced Dec. 13, the transaction is expected to close in the second quarter of 2025. The combined institution is expected to have $300 million in assets and three branches in Greater Topeka.
Heritage Bancshares is the holding company of $135 million Heritage Bank. Following the merger, Heritage Bank will merge into Fidelity State Bank and Trust, the $160 million subsidiary of Fidelity Kansas Bankshares.
“We are excited to expand our commitment to the Topeka region through the merger of our two organizations,” said Heritage Bank President, CEO and Director Tony Konrade. “The team at Fidelity has done an excellent job building relationships with their clients and communities, and it is our plan to deepen those existing ties.”
Washington, D.C.-based Olsen Palmer LLC was financial adviser to Heritage Bancshares, and St. Louis-based Armstrong Teasdale LLP was legal counsel. Greenville, S.C.-based The Capital Corp. served as financial adviser to Fidelity Kansas Bankshares while Minneapolis-based Stinson LLP was legal counsel.