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Archive for Thursday, January 19, 2012

Landmark National to buy Wellsville Bank

January 19, 2012

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Landmark National Bank, which operates two banks in Lawrence but is based out of Manhattan, has reached a deal to purchase The Wellsville Bank.

Wellsville, located in Franklin County, will be the 17th community for Landmark’s operations. Landmark also has banks in Lawrence, Manhattan, Auburn, Dodge City, Fort Scott, Garden City, Great Bend, Hoisington, Junction City, LaCrosse, Louisburg, Osage City, Osawatomie, Paola, Topeka and Wamego.

Landmark currently has assets of about $578.4 million, while The Wellsville Bank has assets of approximately $35.6 million. Terms of the sale were not disclosed. The transaction is expected to be finalized in the second quarter or early third quarter of this year. The Wellsville Bank, which has been controlled by the Moherman family over much of the last century, will be renamed to the Landmark brand.

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