Effective July 16, Rose Hill Bank will officially change its name to American State Bank & Trust Company. American State Bank and Rose Hill Bank have had common ownership for several years, and this official merger will create a stronger, more innovative bank, officials said.
The combined bank will have a statewide presence, added financial strength and a wider expertise in agriculture, commercial and retail services. With the merger, American State Bank will now have 16 branches in Kansas. Branches are located in Augusta, Belleville, Clyde, Concordia, Garden City, Great Bend, Holcomb, Larned, Macksville, Rose Hill, Salina, St. John and Wichita.
Led by President and CEO Greg Quarles, the acquisition will be the consolidated assets of American State Bank to $675 million and will be one of the largest banks in Kansas.
American State Bank, which has been in existence since 2001, is a subsidiary of American State Bancshares and managed by a board of directors of Kansas business and agriculture leaders.
“We are all very excited about the future. With a footprint all across Kansas and expertise in a wide field, we have the team and the vision to continue to grow and serve our customers well,” said Lee Borck, chairman of the board. “We pride ourselves on that personal, small-town service, but have the backing of strong financials and great banking products.”
The bank is also announces several new executive leaders within the organization: Alana Neale, chief financial officer, has joined the bank from H&R Block Bank in Kansas City; Terri Maus, director of marketing & communications, is a 20-year veteran of marketing and advertising in Wichita; Stephanie Whitekiller, director of human resources, was promoted from within the organization; and Doug Thurman, chief lending officer agribusiness, a well-known Kansas agribusiness banker with more than 42 years of agriculture lending experience, joined the bank in May.