KCB Bank is in the process of acquiring Gladstone-based Northland National Bank for an undisclosed amount.
At the beginning of October, KCB Bank, based in Kearney, Mo., applied to the Board of Governors of the Federal Reserve System for permission to acquire the assets and assume the liabilities of Northland National Bank. The comment period for the application ends Nov. 8.
Northland National has two locations: 99 N.E. 72nd St. in Gladstone and 10000 W. 75th St. in Shawnee. As of June 30, the bank had $38 million in assets and $20.4 million in loans, including $328,000 in problem loans. Read more on St. Louis Business Journal.