trending Market Intelligence /marketintelligence/en/news-insights/trending/0um-eyqh5mnysbczfuy2eq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

In Kansas, Astra to buy Midwest Community Bank

Municipal CUSIP Requests Knocked Off of Record Pace by November Decrease

Thomas Cook Bankruptcy Case Study – What Were The Warning Signs?

Architectural Shift In 5G Core Needed To Meet IoT Demands

US Consumer IoT Market: Key Penetration Rates Creeping Toward 30% in 2023

In Kansas, Astra to buy Midwest Community Bank

In Kansas, Belleville-based Astra Bank has applied to acquire Midwest Community Bank of Plainville. Astra and Midwest Community are the respective subsidiaries of First Belleville Bancshares Inc. and Palco Bankshares Inc.

First Belleville will incur debt in connection with the deal but expects to maintain its long-term capital goals, according to a regulatory filing recently acquired by S&P Global Market Intelligence.

Should the parties complete the merger, Midwest's two branches will remain open, and Astra's banking operations in Plainville will transfer to one of Midwest's offices in the same city. Most of Midwest's staff will be retained.

SNL data shows that Astra Bank had assets of $256.2 million as of Sept. 30; Midwest Community had $61.4 million.

The deal value, according to SNL data, is 103.4% of book, 105.5% of tangible book and 15.0x last-12-months earnings, on an aggregate basis. The price represents 17.72% of deposits and 13.03% of assets. The tangible book premium-to-core deposits ratio is 1.22%.

First Belleville Bancshares Inc. will expand in Rooks County, Kan., by two branches to be ranked second with a 35.88% share of approximately $157.5 million in total market deposits.

Hampton & Royce LC served as First Belleville's legal counsel in this transaction.

To use SNL's branch analytics tools to compare market overlap, click here. To use SNL Maps to create custom maps, click here.

SNL Image