The Farmers Bank of Osborne, with banks in Osborne and Luray, Kansas, has entered into a definitive agreement to be acquired by The Peoples Bank, a Kansas state banking company with its main office in Pratt, Kansas.
Under the terms of the agreement, the holding company for The Peoples Bank is to acquire all of the common stock of the holding company of The Farmers Bank of Osborne.  The transaction has been approved by the board of directors of both holding companies.  The acquisition is subject to customary conditions, including the approval of bank regulatory authorities.
Steve Bihlmaier, President of The Farmers Bank of Osborne, commented, “My family is excited to see the bank that we have been a part of for many years become a part of a family and employee owned bank with a very similar approach to banking and a great appreciation for our way of life in rural Kansas.  The Peoples Bank is fully committed to community banking, emphasizing personal relationships with agricultural, individual family, and business clients.”
The Farmers Bank of Osborne, based in Osborne, Kansas and founded in 1901, had total assets of $68 million as of June 30, 2019.
Porter Loomis, President of The Peoples Bank added, “It is a rare opportunity to acquire a strong bank with highly trained, professional bankers.  These bankers will continue to provide personalized service to customers in Osborne and surrounding counties.  
The Peoples Bank was founded May 20, 1887, in Pratt, Kansas.  It operates under its original charter in its original building and uses its original name.  The Peoples Bank has banking offices in Pratt, Greensburg, Medicine Lodge, Kiowa, and Smith Center, plus, a loan production office in Kingman.  As of June 30, 2019, The Peoples Bank had total assets of $352 million, with an active Trust Department of more than $500 million of assets.  Since 1969, The Peoples Bank has processed its banking business with its own computer systems, offering secure electronic and mobile services to its customers in a user-friendly environment.
“We are pleased that both banks share a common goal of serving our customers, our stockholders, our employees and our respective communities as we continue to build an exceptional community bank offering superior customer service across rural Kansas,” said Mr. Loomis.  
The transaction is expected to close in the first quarter of 2020.
Contact for The Farmers Bank of Osborne:
    Steve Bihlmaier, President at 785-346-2147
Contact for The Peoples Bank:
    Porter Loomis, President at 620-672-5611