Cornerstone Bank acquires Harvard State Bank in southeast Nebraska

Cornerstone Bank of Neb. buys Harvard State Bank

YORK, Neb. — Cornerstone Bank in Nebraska says it has acquired Harvard State Bank.

Cornerstone president and chief executive Kelly Holthus (HOLT-huss) says the purchase was completed Thursday.

Holthus would not provide financial details. The southeast Nebraska banks are both privately held.

He said Friday that the Harvard State Bank employees will be retained.

The transaction includes a merger of Harvard State Insurance Agency into Cornerstone Insurance Group.

Cornerstone Bank reported assets of nearly $860 million on Dec. 31 to the Federal Deposit Insurance Corp. Harvard reported assets of $39.7 million.

With the acquisition, Cornerstone has 30 banking facilities in 21 communities and 11 insurance agencies in the 11 counties it serves.

On the Net:

Cornerstone Bank: www.cornerstoneconnect.com/