Citizens State Bank to acquire Burton State Bank
Citizens State Bank and Burton State Bank have entered into a merger agreement. The transaction is expected to be completed promptly once the necessary regulatory approvals have been obtained and all closing conditions have been satisfied.
Burton State Bank will become the seventh branch of Citizens State Bank upon completion of the transaction, which is expected to occur before the end of 2021.
Citizens State Bank was chartered in 1925 and has approximately $840 million in total assets, while Burton State Bank has been in business since 1906 and currently has $86 million in total assets.