Landmark Bancorp, Inc. Announces Acquisition of Freedom Bancshares, Inc.
The Barack Ferrazzano Financial Institutions Group served as legal counsel to Landmark Bancorp, Inc.(NASDAQ: LARK) in the acquisition of Freedom Bancshares, Inc. for cash consideration valued at $33.350 million. The agreement has been unanimously approved by the boards of directors of both companies and is expected to close during the fourth quarter of 2022. Upon completion of the transaction, Landmark will have total assets of approximately $1.5 billion and 31 total offices in 24 communities across Kansas.
"We are very excited about this agreement with Freedom. Freedom Bank has been a strong commercial bank in Overland Park since its formation and the transaction allows an excellent opportunity to expand our presence in more urban areas, including Kansas City. The transaction will allow Freedom Bank's customers to continue to partner with a community- focused financial institution. We look forward to continuing Freedom Bank's commitment to its customers and the community it serves, and are excited to have Freedom Bank's employees join our community banking team," commented Michael Scheopner, President and CEO of Landmark National Bank.
Barack Ferrazzano’s legal team was led by Financial Institutions Group co-chair Robert M. Fleetwood and partner Brent McCauley with assistance from associate Zoe Xiuha Uvin. Executive compensation and benefits were handled by partner Donald L. Norman, Jr. with assistance from associate Alex Freund.
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