A southeast Kansas bank announced Wednesday it has reached an agreement to purchase three Bank of America branches in Independence, Coffeyville and Caney, Kansas.
In a news release, Commercial Bank says it will assume the deposits of the three bank branches. The acquisition, which is subject to approval from banking regulators and shareholders, is expected to be completed sometime this summer.
"This acquisition adds to our strength as a bank and our commitment to our employees, customers and communities. We look forward to welcoming new employees and customers, and are confident they will continue to thrive under our community banking principles and personal service," said Commercial Bank President, Philip Eaton.
Commercial Bank currently operates seven banking facilities in five southeast Kansas communities, including three branches in Parsons, and one each in Erie, Oswego, Independence and Chanute.
It's based in Parsons, Kansas.
Commercial Bank is part of a group of banks owned by the Sutherland family.