Geneva, Neb.-based Heartland Bank is acquiring the State Bank of Odell, Neb.
The purchase is expected to receive regulatory approvals by the end of the year, and be finalized in early 2024. The $32 million State Bank of Odell has two branches, in Odell and Diller, Neb.
According to Heartland Bank, the acquisition will allow for greater access to a nationwide ATM network, larger lending limit, wealth management and insurance services and a Trust Company.
“We are excited to have the opportunity to expand our presence in Nebraska and extend a warm welcome to State Bank of Odell’s valued customers, dedicated associates and close-knit communities,” said John Wilkins, CEO and chair of $807 million Heartland Bank.
“Our two organizations share strong cultural and business ethics,” added State Bank of Odell President and CEO Jim Stanosheck. “We both are committed to our customers and our communities, and this will only serve to enhance our commitment to both.”
The acquisition continues Heartland Bank’s recent growth. In April, the bank announced its entry into the Omaha commercial and professional banking market by adding Steven R. Knapp as regional president.