v2.4.0.8
Branch Sale
9 Months Ended
Sep. 30, 2013
Branch Sale [Abstract]  
Branch Sale
BRANCH SALE

On July 3, 2013 the Company entered into an agreement to sell two of its Kansas City branches to another financial institution. The agreement calls for the sale of substantially all of the deposits at these branches, as well as specified loans and other assets. The Company expects to record a gain upon completion of the transaction primarily attributed to a premium on the deposits that will be sold. Regulatory approval for the transaction occurred in the third quarter of 2013 and the sale is expected to be completed in the fourth quarter of 2013.

The following table summarizes the primary balance sheet amounts relative to the branches to be sold:


(in thousands)
 
 
Assets
 
 
Cash and cash equivalents
 
$
805

Loans
 
7,696

Other assets
 
1,206

 
 
 
Liabilities
 
 
Deposits
 
$
81,298