trending Market Intelligence /marketintelligence/en/news-insights/trending/4qGnLZEBU2Q4tZ-IicgzLw2 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

Docking Bancshares to acquire Kansas-based Midland Financial

Street Talk Episode 52 - A bank's 'knife fight' to stay high performing in a low rate environment

Financial Plumbing Prone To Clogging Amid Bank Liquidity Trap

New York Fed Increases Planned Repo Purchases Amid Quarter-End Demand For Cash

Fed Poised To Relax Key Rules For Large Banks


Docking Bancshares to acquire Kansas-based Midland Financial

Arkansas City, Kan.-based Docking Bancshares Inc., the parent company of Union State Bank, is acquiring Newton, Kan.-based Midland Financial Corp. and its unit Midland National Bank, according to a report on NewsCow.net, which cites a news release.

The deal is expected to close in the fourth quarter. The financial terms of the transaction were not disclosed in the report.

Midland National Bank will operate separately under the name Midland, a division of Union State Bank, until the conversion of the banking systems in the third quarter of 2020. The bank will rebrand to Union State Bank at that time.

At the closing of the merger, Union State Bank will have more than $475 million in total assets. Midland National Bank President Ronald Lang will continue with Union State Bank as market president.

S&P Global Market Intelligence valuations for bank and thrift targets in the Midwest region between Oct. 15, 2018, and Oct. 15, 2019, averaged 152.23% of book and 157.52% of tangible book and had a median of 16.55x last-12-months earnings, on an aggregate basis.

Docking Bancshares will enter Harvey County, Kan., with five branches to be ranked second with a 19.1% share of approximately $623.31 million in total market deposits.

As of June 30, Docking Bancshares and its subsidiary bank had $339 million in total assets, while Midland National Bank had assets of $136 million, according to the report.

Sandler O'Neill & Partners LP and The Capital Corp. served as financial advisers and Stinson LLP acted as legal counsel to Docking Bancshares. Hampton & Royce LC served as Midland Financial's legal counsel.

To use S&P Global Market Intelligence's branch analytics tools to compare market overlap, click here. To create custom maps, click here.

SNL Image