Landmark (LARK) Unit to Acquire Assets/Deposits of The Wellsville Bank

January 17, 2012 9:31 AM EST
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Landmark National Bank, the wholly-owned bank subsidiary of Landmark Bancorp, Inc. (Nasdaq: LARK), and The Wellsville Bank jointly announced today the execution of a definitive agreement under which Landmark National Bank will acquire The Wellsville Bank. The transaction is subject to standard closing conditions, as well as the approval of the appropriate regulatory agencies and the shareholders of Wellsville Bancshares, Inc., the sole shareholder of The Wellsville Bank. The acquisition is expected to be completed during the second or early third quarter of 2012. Upon the closing of the acquisition, The Wellsville Bank will be merged with and into Landmark National Bank.

Landmark National Bank has approximately $578.4 million in assets and operates out of 21 offices in 16 communities across Kansas. The Wellsville Bank has assets of approximately $35.6 million and operates out of a single office in Wellsville, Kansas.

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