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GNBank NA buying fellow Kansas community bank

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GNBank NA buying fellow Kansas community bank

Girard, Kan.-based GNBank NA is buying First National Bank of Girard, according to a merger release dated Nov. 29 and recently obtained by S&P Global Market Intelligence.

The cash deal is expected to close in spring 2019, according to the report. No financial terms were provided, but SNL valuations for bank and thrift targets in the Midwest region between Nov. 27, 2017, and Nov. 27, 2018, averaged 155.26% of book, 161.36% of tangible book and had a median of 22.94x last-12-months earnings, on an aggregate basis.