York, Neb.-based Cornerstone Bank will acquire Bank of Orchard, Neb., later this year.
The $2.7 billion Cornerstone Bank will grow to 48 branches in 39 communities along with 19 insurance locations. The $35 million Bank of Orchard has $30 million of deposits and $9 million in loans.
“Cornerstone Bank is very pleased to be a part of the Orchard community,” said Cornerstone Bank Chair Kelly Holthus and Cornerstone Bank President and CEO Zac Holoch. “We are committed to the agricultural sector of the economy and serving many smaller communities in Nebraska. We feel this purchase will be a further enhancement to expand our banking footprint.”
Bank of Orchard Chair, President and CEO Ben Clifton said the merger “will provide additional financial services such as online account opening, online mortgage applications, trust and investment services, to name a few.”
