Marysville, Kan.-based UBT Bancshares is expanding in the southeast part of the state acquiring Bank of Commerce in a capital stock deal. .The deal is expected to close Jan. 1, and will create a $1.4 billion bank. UBT Bancshares is the parent company of United Bank & Trust. As of April, United Bank & Trust had $905 million in assets, $732 million in deposits, $658 million in net loans and leases and 16 branches in the northeast part of the state. A subsidiary of Southeast Bancshares, Chanute-based Bank of Commerce has 15 branches in southeast Kansas, along with $500 million in assets, $442 million in deposits and $324 million in net loans and leases. “By combining our organizations, we will create a more robust platform with enhanced products, greater lending capacity and expanded geographic reach while preserving the local decision-making and customer focus both banks are known for,” said UBT Bancshares President and Chair Leonard Wolfe.
