Kansas City, Mo.-based Dickinson Financial Corp. agreed to acquire 100% of Kearney, Mo.-based KCB Bank's common shares from parent Bancshares of Missouri Inc.

KCB Bank will then be merged into Dickinson Financial unit Academy Bank NA under the terms of the deal. The transaction is expected to close early in the fourth quarter.

S&P Global Market Intelligence valuations for bank and thrift targets in the Midwest region between May 31, 2018, and May 31, 2019, averaged 150.80% of book and 154.24% of tangible book and had a median of 19.56x last-12-months earnings on an aggregate basis.

Parent Dickinson Financial Corp. II will expand in Clay County, Mo., by four branches to be ranked sixth with a 5.80% share of approximately $3.87 billion in total market deposits. It will also expand in Wyandotte County, Mo., by one branch to be ranked no. 14 with a 1.13% share of roughly $2.06 billion in total market deposits.

Academy Bank has total assets of $1.6 billion, and KCB Bank has total assets of $255 million, according to a press release.

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