Bethany-based BTC Bank is acquiring Glasgow, Mo.-based Bancshares of Glasgow and its subsidiary, Tri-County Trust Company..The deal, which is expected to close in the second quarter of this year, will expand the $1.5 billion BTC Bank to include 29 branches in Missouri and southern Iowa, along with a mobile branch. BTC Bank had $1.1 billion in deposits and $1.2 billion in net loans and leases as of late January. Tri-County Trust Company had $61.5 million in assets, $47.6 million in deposits and $42.2 million in net loans and leases. Financial transactions of the deal have not been disclosed. Glasgow is 130 miles southeast of Bethany in central Missouri. “Tri-County Trust Company serves a strong rural community that aligns with our mission and values, and this partnership further strengthens our ability to bring community banking to more people, families, and businesses throughout the region,” said BTC Bank President and CEO Doug Fish. Fenimore Kay Harrison, Austin, Texas, was legal counsel to Bethany Bankshares, Inc., and Kansas City, Mo.-based Stinson LLP was legal counsel to Bancshares of Glasgow.
