Plains Bancshares, Inc., and its wholly-owned subsidiary, Plains State Bank, announced it will acquire Sixth Bancshares, Inc., and its wholly-owned subsidiary, BANK VI , based in Salina, Kan.
Founded in 1906, Plains is a $104 million community bank serving southwest Kansas; it has 22 full-time employees and operates three branches in Plains, Lakin and Great Bend.
Founded in 1909 as The Citizen’s State Bank, BANK VI has approximately $105 million in assets, $83.8 million in loans, and $75 million in deposits. BANK VI operates two locations in Salina.
A mid-year closing is expected.
D.A. Davidson & Co. acted as financial advisor to both Plains Bancshares, Inc. and Sixth Bancshares, Inc. in this transaction.