Reliable Community Bancshares Inc., the parent company of Bank of Missouri, agreed to acquire Bolivar Bancshares Inc., the holding company for Bank of Bolivar.

Financial terms of the transaction were not disclosed. The deal is expected to close in February 2020, with Bank of Bolivar's locations becoming Bank of Missouri in the third quarter of 2020.

Perryville, Missouri-based Bank of Missouri has $1.7 billion in assets, according to a post on the bank's blog. Bolivar, Missouri-based Bank of Bolivar has assets of more than $300 million.

S&P Global Market Intelligence valuations for bank and thrift targets in the Midwest region between Nov. 1, 2018, and Nov. 1, 2019, averaged 140.77% of book and 145.78% of tangible book and had a median of 16.04x last-12-months earnings, on an aggregate basis.

Reliable Community Bancshares will expand in Greene County, Mo., by three branches to be ranked No. 12 with a 2.44% share of approximately $8.51 billion in total market deposits, will enter Polk County, Mo., with two branches to be ranked first with a 37.97% share of approximately $550.83 million in total market deposits, will enter Webster County, Mo., with one branch to be ranked tenth with a 0.83% share of approximately $472.64 million in total market deposits.

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