The holding company of the First National Bank in Wellington said today that it plans to acquire Caldwell State Bank and rename the merged institutions Impact Bank.
First Financial Corp. said in a news release it has filed application with the Federal Reserve Board and the Kansas Bank Commissioner for the merger and renaming. Company officials said they expect the merger to be complete in late March or early April.
Impact Bank would operate two locations, at 206 E. Harvey in Wellington and 24 N. Main in Caldwell.
“We look at this as a true consolidation of two well-established, well-capitalized, stable banks into one stronger and larger bank,” said John Stewart III, CEO of First Financial, in the release. “This merger will have a positive impact on current customers, the two communities and the region.”
First National has $90.6 million in assets. Caldwell State has $41.3 million.