Following its 2006 acquisition of Prairie State Bank, Emprise Bank had branches in most of the towns surrounding Wichita, except for Clearwater.
Emprise and Tonganoxie-based First State Bank & Trust said Tuesday that Emprise will acquire First State's Clearwater branch.
For Emprise, the acquisition means a little more than $50 million in new deposits and a nearly 90 percent market share in the Sedgwick County town.
The deal will increase Emprise's branch count to 42 in the state, 21 in the county.
Earlier this year, First State closed its sole Wichita branch at 11931 W. Central because it couldn't grow deposits there at a level it wanted.
The Clearwater branch — formerly the Home State Bank of Clearwater, which First State acquired in 1995 — was its only other area branch.
First State said the sale of the Clearwater branch was strategic and would help it become more efficient, allowing the $295 million bank to focus on its cluster of northeast Kansas branches in Tonganoxie, Kansas City, Perry, Basehor and Lawrence.
Tom Page, Emprise CEO, said there are many reasons why the $1.3 billion bank wanted the Clearwater branch.
For one, it's in a town near two others where Emprise has branches: Haysville and Goddard.
For another, Page said he thinks the population of Clearwater will grow, as will its school district, in the next decade.
"The other thing is we haven't done an acquisition for four years," Page said, adding that acquiring a bank is a "skill set that has to be developed and... practiced."
Page said the Clearwater branch will remain in its current location at 201 E. Ross following completion of the deal.
First State staff also will remain.
"Our plans are to retain everyone," he said.
Page said he hopes the acquisition will be completed in the first quarter, following regulatory approval.