Banking

Rose Hill Bank parent to acquire Simmons’ Salina branches

American State Bancshares, a Wichita-based bank holding company, said it will acquire the three Salina branches of Simmons First National Bank.

American State said in a news release the branches will be absorbed into Rose Hill Bank, one of three banks owned by American State.

“I am extremely pleased to announce this expansion of our services into the Salina market,” Roger Kepley, Rose Hill president, said in the release. “These branches are a great addition to our existing banking network.”

Rose Hill operates branches in Augusta, Rose Hill and Wichita.

The deal would bring Rose Hill’s consolidated assets to $338 million, and $759 million for American State.

The holding company also owns American State Bank & Trust Co. in Great Bend, and Peoples Exchange Bank in Belleville.

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