Academy Bank, owned by Dickinson Financial Inc. based in Kansas City, has agreed to buy Overland Park-based Merit Bank.
Merit Bank, which originated in Goff, Kan., also operates in Overland Park and Olathe. It has $104 million in assets spread among its three locations.
“The acquisition fits well with our Academy Bank strategy of expanding our footprint in the Kansas City market in high-growth areas,” Dickinson Financial chief executive Paul Holewinski said in an announcement. “The branches in Overland Park and Olathe are great locations, and we plan to build them into strong platforms of growth that attract new commercial and retail customers in Johnson County.”
Academy Bank has more than $1 billion in assets and 77 branches in Missouri, Colorado, Kansas, Arizona and Florida. Its home office is in Colorado Springs, Colo.