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Missouri-based Central Banco. closes purchase of in-state peer Liberty Bancorp

Jefferson City, Mo.-based Central Banco. Inc. closed its acquisition of Kansas City, Mo.-based Liberty Bancorp Inc., effective Aug. 1.

Under the terms of the deal, Liberty Bancorp unit BankLiberty will merge into Central Banco.'s affiliate bank, Central Bank of the Midwest, over the next few months. Completion of the conversion is anticipated to occur in the fourth quarter.

Central Bank of the Midwest is expected to have combined assets totaling $2.3 billion, with $1.7 billion in loans and $1.9 billion in deposits, according to a news release.

Raymond James & Associates Inc. served as financial adviser on the transaction to Liberty Bancorp, and Kilpatrick Townsend & Stockton LLP acted as legal adviser.