Edmonton State Bank and Sumner Bank & Trust announce merger
EDMONTON, Ky. – Edmonton State Bank and Sumner Bank & Trust have announced an agreement to merge.
According to a release, the merger will add three new offices to Edmonton State Bank’s existing branches.
In the transaction, the shareholders of Sumner Financial Corporation will receive $26.82 per share, the release says. Additional terms of the merger agreement between Edmonton Bancshares, Inc. and Sumner Financial Corporation were not disclosed.
Edmonton State Bank currently has 15 locations in Allen, Barren, Metcalfe, Monroe and Warren counties. The merger will add locations in Gallatin, Tennessee and Hendersonville, Tennessee.
The transaction is expected to close during the fourth quarter of 2023.
Edmonton State Bank is the largest independently owned and operated community banking company headquartered in Metcalfe County. The bank is a wholly owned subsidiary of Edmonton Bancshares, Inc., a registered bank holding company. Sumner Bank & Trust is wholly owned by Sumner Financial Corporation.