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First State Bank in Joplin to be purchased by Pinnacle Bank - KOAM TV 7

First State Bank in Joplin to be purchased by Pinnacle Bank

Updated:

Pinnacle Bank has agreed to buy First State Bank of Joplin.  First State Bank will become part of Pinnacle Bank's 57 branch network.

Financial terms have not been disclosed.

First State Bank has four branches in Joplin, one in Sarcoxie and one in Webb City and a total of $183 million dollars in assets.

The transaction is expected to close in December.

"We're excited about this - Pinnacle Bank and their philosophies are identical to ours and they believe in the integrity of community banking and it will be good for our customers and good for Joplin," says Alden Buerge, Chairman & CEO of First State Bank.

Pinnacle Bancorp is based out of Nebraska, and is the subsidiary owner of Pinnacle Bank with 127 community banks in eight states.

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