RCB Bank is expanding its Kansas footprint and plans to acquire Hutchinson-based Central Bank and Trust Co. RCB has locations in Ark City and Winfield.
Pending regulatory approval, the sale is expected to be finalized in the second quarter of 2018. All six CB&T locations in Hutchinson and Wichita are included in the transaction and will continue to operate as CB&T until late first quarter 2019.
“We are very grateful to Earl McVicker, chairman, CEO and president of CB&T, for the opportunity to be involved in the Hutchinson community and expand our presence in the Wichita market with additional facilities on the east and west side. Mr. McVicker and his team have set a high standard for customer service and community involvement, a model we expect to maintain with the help of his existing employees,” Roger Mosier, president and CEO of RCB Holding Company, said in a prepared statement.
RCB Holding Company is the parent company of RCB Bank, a $2.8 billion community bank with over 700 employees and 52 locations in Oklahoma and Kansas. RCB Bank was founded in 1936 in Claremore, Okla.
Central Bank and Trust Co. has $323 million in assets and 73 employees according to the December 31, 2017 call report.
“After RCBHC contacted us regarding their interest in partnering in our communities, our board considered how our customers will be served and our staff affected,” McVicker said. “Our employees have always provided a high level of customer service and it was important that the level of service be maintained. RCBHC’s community bank tradition was a very important part of our decision. We are confident RCB Bank will continue to provide the high level of customer service our customers have come to expect from Central Bank.”
McVicker will continue with RCB Bank in a capacity as chairman of the RCB Bank Kansas Market Board.
With the addition of Central Bank and Trust, RCB Holding Company’s two banks will expand to 58 locations across Oklahoma and Kansas, and $3.1 billion in assets.