Heritage Bancshares, Inc., the holding company of Heritage Bank, and Fidelity Kansas Bankshares, Inc., the holding company of Fidelity State Bank and Trust Company, have jointly announced today the signing of a stock purchase agreement whereby Heritage Bancshares, Inc. will acquire Fidelity State Bank and Trust Company. Following the closing of the transaction, Fidelity State Bank and Trust Company will be merged with and into Heritage Bank with Heritage Bank as the surviving entity.
Olsen Palmer LLC served as financial advisor to Heritage Bancshares, Inc. in connection with this transaction.
The transaction has been approved by the board of directors of each company and is expected to close in the second quarter of 2025, subject to customary closing conditions including shareholder and regulatory approvals.