Southern Missouri Bancorp Acquires Citizens Bancshares for $140M

Southern Missouri Bancorp Inc., the parent of Southern Bank, agreed to acquire Kansas City–based Citizens Bancshares Co. in a stock-and-cash transaction valued at approximately $140 million. The deal, unanimously approved by both boards, gives Citizens shareholders a choice of shares or $53.50 cash per share, will add 14 branches in Missouri and is expected to be accretive to Southern Missouri Bancorp's EPS over the following fiscal years, subject to customary approvals.