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Mo.-based Community National Bank merging with Freedom Bank of Southern Missouri

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Mo.-based Community National Bank merging with Freedom Bank of Southern Missouri

Monett, Mo.-based Community National Bank is merging with Cassville, Mo.-based Freedom Bank of Southern Missouri, a unit of Freedom Bancshares of Southern Missouri Inc., The Monett Times reported.

Financial terms of the deal were not disclosed in the report.

The merger process, which will see the two banks combine under the name of Freedom Bank, is anticipated to be finalized in the second quarter. The completion of the transaction will bring Freedom Bank's total assets to about $430 million, according to the report.

Freedom Bank President and CEO Stan Kelley and Community National Bank President and CEO Darrin Newbold will bring their years of banking experience together "to continue to enhance their respective markets," the publication added.

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