Donald R. LacKamp, President of American State Bancshares, Inc., Great Bend, has announced that it has entered into a definitive agreement with Rose Hill Bancorp, Inc. for the acquisition of Rose Hill Bank. Rose Hill Bank has been under the ownership of the Waitt family for many years and has enjoyed excellent growth, mostly under the leadership of George H. (Rocky) Waitt III. Rose Hill has four locations in the Wichita area, Rose Hill, Andover and branches in east and west Wichita. Rose Hill will remain a separate bank charter with Waitt continuing as President and CEO until the management transition is completed. He will become a shareholder of the holding company and continue to serve on the Board of Rose Hill Bank. Choosing an acquiring entity was a heartfelt undertaking. Our customers and employees are extremely important to us and that makes American State the perfect partner. Our combined dedication and resources will serve our customers and communities well, said Waitt. American State Bancshares is a multi-bank holding company with two Kansas bank charters, American State Bank & Trust in Great Bend and Peoples Exchange Bank in Belleville, with a combined total of 10 locations in the State. The Rose Hill acquisition will bring the consolidated assets of the holding company to over $620 million. The pending transaction is subject to the approval of regulatory authorities.