The sale, pending regulatory approval, is expected to be finalized early in the third quarter of 2016.
All nine CornerBank locations, located in Arkansas City, Douglass, Lawrence, Oxford, Wellington, Wichita and Winfield are included in the transaction.
“Our entrance into the Kansas market in 2010 gave us an opportunity to test the waters and frankly, we have enjoyed the experience,” said RCB Bank President and CEO Roger Mosier. “Our hometown community bank model fits well in the Kansas marketplace and CornerBank’s similar approach makes this transaction a natural fit.”
“We are excited by the opportunities in Kansas,” Mosier added in a release.
CornerBank, headquartered in Winfield, has $280 million in assets, nearly 100 employees and serves seven Kansas communities.
“When RCB Bank contacted us regarding their interest, our board considered how our customers will continue to be served,” said CornerBank President and CEO Bruce Schwyhart. “We are confident that RCB Bank will continue to provide the high level of customer service that our customers have come to expect.
“Our two cultures mesh very well, and even though RCB is a much larger bank, they still have the culture of a community bank, which is of utmost importance to us.”
With the addition of the CornerBank locations, RCB Bank’s branch network will expand to 50 locations across Oklahoma and extending into Kansas, and $2.8 billion in assets. The community bank is growing and expanding banking services continually.
RCB Bank offers online and mobile banking with apps for iPhones, iPads and Android devices, including mobile check deposit for approved customers and text banking.
“Our free personal rewards accounts are really some of the best around,” Mosier said. “We actually pay our customers to bank with us, which is different than most banks who are taking services away.”
In addition to strong retail offerings for our customers, RCB Bank also offers state-of-the-art treasury management services for small business customers, including cash management, lockbox solutions and remote deposit capture.
“Some of the CornerBank markets are new to us,” Mosier said. “However, we service each community with the same approach and promise as stated on our opening day, January 4, 1936, ‘to provide people and facilities who are friendly in service and progressive in spirit.’”
“CornerBank has a history of building strong relationships within our communities we serve. We see these strong relationships being enhanced through this merger, as RCB Bank will continue to respect these relationships through outstanding service and innovative products,” Schwyhart said.
CornerBank is a Kansas-based, $280 million, full-service community bank serving seven Kansas communities with nearly 100 employees.
Founded in 1872, CornerBank has been providing trusted banking services to its customers for more than 143 years.
For more information, visit www.cornerbank.com. CornerBank is a member of FDIC and Equal Housing Lender.
About RCB Bank
RCB Bank is a $2.5 billion community bank with more than 600 employees, and 41 locations in Kansas and Oklahoma.
Founded in 1936 in Claremore, Okla., RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products.
For additional information, visit www.RCBbank.com. RCB Bank is a member of FDIC and Equal Housing Lender.