Greg Stine, the chairman of the board of Premier Bank, announced Friday that the bank has entered into an agreement to sell substantially all of the assets and liabilities of the Purdum branch of Premier Bank to Curtis State Bank.
Curtis State Bank is owned by Western Bancshares, Inc., a bank holding company led by Michael Kelly of North Platte.
Premier Bank, headquartered in Omaha, purchased the Purdum State Bank in 2011. The Purdum bank was previously owned by the Moody and Cox families, dating back to Purdum State Bank's establishment in 1914.
Russell Licking and Pam Moody will remain as vice presidents at Purdum. No changes are planned to other staff, said marketin officer Marcy Hunter in the announcement.
Western Bancshares, Inc. purchased Curtis State Bank in 2010 and also opened the Curtis State Bank Loan Production Office and Western Nebraska Insurance LLC (an independent insurance agency) in North Platte, to serve their customers.
With the proposed acquisition, Western Bancshares, Inc. will have combined assets of approximately $55 million, Hunter said.
Kelly also welcomes Dave Hamilton, a fourth generation rancher from Thedford, along with the Moody family from Purdum as new shareholders of the bank.
The purchase is subject to regulatory approval, which is expected to take 60-90 days.