PRESS RELEASE
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
January 17, 2012 Landmark National Bank Patrick L. Alexander,
President and CEO
(785) 565-2000
The Wellsville Bank Nancy L. Evans, Executive Vice President
(785) 883-2145
Landmark National Bank to Acquire The Wellsville Bank
(Manhattan, KS, January 17, 2012) Landmark National Bank, the
wholly-owned bank subsidiary of Landmark Bancorp, Inc.
(NASDAQ: LARK), and The Wellsville Bank jointly announced
today the execution of a definitive agreement under which
Landmark National Bank will acquire The Wellsville Bank. The
transaction is subject to standard closing conditions, as
well as the approval of the appropriate regulatory agencies
and the shareholders of Wellsville Bancshares, Inc., the sole
shareholder of The Wellsville Bank. The acquisition is
expected to be completed during the second or early third
quarter of 2012. Upon the closing of the acquisition, The
Wellsville Bank will be merged with and into Landmark
National Bank.
Landmark National Bank has approximately $578.4 million in
assets and operates out of
21 offices in 16 communities across Kansas. The Wellsville
Bank has assets of approximately
$35.6 million and operates out of a single office in
Wellsville, Kansas.
"We are very excited about this agreement with Wellsville.
Wellsville provides us with a great opportunity to expand our
already strong presence in Kansas and allows Wellsville's
customers to continue to bank with a community-focused
financial institution. We look forward to continuing
Wellsville's commitment to its customers and the community it
serves, and are excited to have Wellsville's employees join
our community banking team," commented Patrick L. Alexander,
President and CEO of Landmark National Bank.
Nancy L. Evans, Executive Vice President and a Director of
The Wellsville Bank, stated, "We are thrilled to be able to
partner with a community-oriented institution like Landmark
National Bank. The community and customer focus that Landmark
is well known for fits very nicely with the community banking
services that the Moherman family has delivered to Wellsville
over the past century. My mother, Elizabeth Moherman, and I
are pleased that we were able to find an institution like
Landmark that will continue our family tradition of community
banking and that has the strength and resources to bring
enhanced services and capabilities to the Wellsville
community.
Steven D. Layton, President of The Wellsville Bank, added,
"We look forward to our affiliation with Landmark. Landmark
is a strong organization whose values, products, and solid
performance will allow our customers to continue to enjoy a
great relationship with a Kansas- based, community-focused
financial organization."
Landmark Bancorp, Inc., the holding company for Landmark
National Bank, is listed on the NASDAQ Global Market under
the symbol "LARK." Headquartered in Manhattan, Kansas,
Landmark National Bank is a community banking organization
dedicated to providing quality financial and banking
services. Landmark National Bank has 21 locations in 16
communities across Kansas: Manhattan (2), Auburn, Dodge City
(2), Fort Scott, Garden City, Great Bend (2), Hoisington,
Junction City, LaCrosse, Lawrence (2), Louisburg, Osage City,
Osawatomie, Paola, Topeka (2) and Wamego, Kansas. Visit
www.banklandmark.com for more information.
The Wellsville Bank is the wholly-owned subsidiary of
Wellsville Bancshares, Inc., a privately-owned bank holding
company headquartered in Wellsville, Kansas. The Wellsville
Bank is a full-service community bank, offering a wide
variety of loan products and savings deposits to its clients
through its sole office in Wellsville, Kansas.
Special Note Concerning Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of Landmark Bancorp, Inc. (the "Company"). Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. Additionally, all statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond our ability to control or predict, could cause actual results to differ materially from those in our forward-looking statements. These factors include, among others, the following: (i) the strength of the local and national economy; (ii) changes in state and federal laws, regulations and governmental policies concerning our general business; (iii) changes technology and the ability to develop and maintain secure and reliable electronic systems; (iv) changes in interest rates and prepayment rates of our assets; (v) increased competition in the financial services sector and the inability to attract new customers; (vi) the economic impact of armed conflict or terrorist acts involving the United States; (vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected outcomes of existing or new litigation; (x) changes in accounting policies and practices; (xi) ability to manage credit risk, forecast loan losses and maintain an adequate allowance for loan losses; (xii) declines in the value of our investment portfolio; (xiii) the ability to raise additional capital; and (xiv) declines in real estate values. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company's financial results, is included in the Company's filings with the Securities and Exchange Commission.
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