BTC Bank has announced that it has signed an agreement to purchase 1st Cameron State Bank with two locations in Cameron, Missouri. Terms of the purchase provide for BTC Bank to acquire substantially all of the assets, deposits, and liabilities associated with 1st Cameron State Bank.
“BTC Bank is excited to welcome 1st Cameron State bank, its employees, and customers to the BTC Family,” said Doug Fish, BTC Bank President, and CEO. “We look forward to continuing 1st Cameron’s tradition of fostering relationships to best serve customers while having a positive impact on the local communities.”
The acquisition agreement will be BTC Bank’s second this year and once finalized, bringing its total assets to almost $1 billion and full-service branches to 18 throughout North-Central Missouri and Southern Iowa.
Early August, BTC Bank successfully agreed on a partnership with Home Exchange Bank headquartered in Jamesport, Missouri. “BTC Bank has made an ongoing strategic commitment to search for partnerships that help us bring the benefits of a community bank to more rural people while reinforcing our position as a strong and reliable financial institution,” says Fish. “Home Exchange Bank and 1st Cameron State Bank have exceeded our expectations as optimal partners to help us expand our footprint and ensure financial services are accessible to more rural communities.”
Both transactions are expected to close later this year and are subject to standard closing conditions as well as shareholder and regulatory agency approvals.
“We will take the necessary steps to ensure smooth transitions of service for our new customers while continuing our long-term commitment to providing exemplary service to all of the communities we serve,” says Fish.