Eastern Missouri-based Rhineland Bancshares is expanding in the St. Louis metro by acquiring BancStar, Inc..The deal, expected to close early next year, will create a nearly $1 billion bank with 18 branches in Missouri. Rhineland Bancshares is the parent company of Peoples Savings Bank. BancStar is the holding company of Bank Star. A more than $800 million bank, Peoples Savings Bank operates 15 branches. Earlier this year, the bank acquired Green City, Mo.-based FarmBank. Bank Star, which is headquartered southwest of St. Louis in Pacific, has $191 million in assets.“Partnering with Peoples Savings Bank allows us to continue the legacy of local decision making and relationship banking while providing greater access to products and services,” said Bank Star President and CEO Joe Stewart III. St. Louis-based Sandberg Phoenix was legal counsel to Rhineland Bancshares. Washington, D.C.-based Olsen Palmer was financial advisor to BancStar, while St. Louis-based Armstrong Teasdale was legal counsel.
