BTC Bank Announces Plans To Acquire Home Exchange Bank

BTC Bank has announced an agreement to purchase of the Home Exchange Bank of Jamesport, Gilman City, and Oregon.

At this point, the purchase is subject to regulatory and stockholder approval. That is expected over the next two months. Once the purchase is completed, BTC Bank expects the conversion of banking systems to take place later this year. Under the agreement, BTC Bank would acquire all of the assets, deposits, and liabilities that are associated with the Home Exchange Bank.

BTC Bank says physical branches are present for the Gilman City and Jamesport communities. They have announced an intent to expand a presence in the Holt County area.

With the purchase, BTC Bank will have 16 locations in north Missouri and one in southern Iowa.