Branson Bank to acquire Hawthorn Bank Branch, Branson location
October 18, 2018
Branson, MO – Branson Bank and Hawthorn Bank jointly announced that a definitive agreement has been signed for Branson Bank to purchase the Hawthorn Bank Branch, Branson location at: 4675 Gretna Rd in Branson, MO. As part of the acquisition, Branson Bank will assume approximately $15 million in deposit liabilities consisting of approximately 900 deposit accounts, excluding loans assigned to the branch. The purchase, approved by each bank’s Board of Directors, is now subject to regulatory approval: tentatively scheduled to close first quarter in 2019.
“On behalf of the Branson Bank organization, we are pleased to announce this pending acquisition,” said Bill W. Jones, President of Branson Bank. “It addresses several of our strategic objectives, namely better accommodation of continuing growth. We would like to extend a warm welcome to the Branson Hawthorn Bank Branch location customers and associates.”
“We have enjoyed serving the Branson, MO area for the past 14 years,” said David T. Turner, President of Hawthorn Bank. “As we focus our network on our other markets, it was vitally important to us that we find a buyer for our southern-most branch who would provide a comparable level of service and the full range of financial products our customers have come to expect. We found what we were looking for in Branson Bank.”
Hawthorn Bank Branch, Branson location customers should continue to utilize Hawthorn Bank facilities as they always have until further notice. Important information about the purchase will be mailed to customers in the coming weeks.
Branson Bank is a $210 million asset community bank; that is a locally owned and controlled, state chartered financial institution with two locations in Branson and one in Forsyth.