SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: September 16, 1997
(Date of earliest event reported)
MNB BANCSHARES, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-20878 48-1120026
(Commission File Number) (IRS Employer Identification Number)
800 Poyntz Avenue, Manhattan, Kansas 66502
(Address of principal executive offices) (Zip Code)
(785) 565-2000
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On September 16, 1997, MNB Bancshares, Inc., (the "Registrant")
entered into an Agreement and Plan of Merger (the "Agreement")
with Freedom Bancshares, Inc. ("Freedom"), a Kansas
corporation. Pursuant to the terms of the Agreement, upon
consummation of the transaction, the Registrant will acquire
Freedom for cash.
Attached hereto as Exhibit 99.1 is a copy of a press release, dated
September 16, 1997, announcing the signing of the Agreement.
Item 7. Financial Statements, Pro Forma Financial Information,
and Exhibits
(a) Financial Statements of Business Acquired
None.
(b) Pro Forma Financial Information
None.
(c) Exhibits
99.1 Press Release dated September 16, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MNB BANCSHARES, INC.
Dated: September 18, 1997
By: /s/ Susan E. Roepke
Vice President
<PAGE>
EXHIBIT 99.1
PRESS RELEASE
CONTACT:
Patrick L. Alexander
President and Chief Executive Officer
785/565-2000
FOR IMMEDIATE RELEASE
MNB BANCSHARES, INC.
ANNOUNCES AGREEMENT TO ACQUIRE
FREEDOM BANCSHARES, INC.
Merger Expands Kansas Based Community Banking Organization
(Manhattan, Kansas September 16, 1997) Patrick L. Alexander,
President and Chief Executive Officer of MNB Bancshares, Inc. (Nasdaq
Small Cap MNBB), Manhattan, and William J. Schlobohm, President of
Freedom Bancshares, Inc., Osage City, announced today that they have
signed a definitive agreement for the cash acquisition of Freedom by MNB.
Freedom is the holding company for Citizens State Bank, which is
headquartered in Osage City and operates a branch in Beloit, Kansas. The
transaction is subject to the completion of due diligence by MNB and to
approvals from Freedom shareholders and the appropriate regulatory
agencies. It is expected to be completed during the first quarter of 1998.
"This proposed acquisition adds another sound, solid-performing
bank to the group of community banks we have assembled in northeast
Kansas," Alexander said. "We are positioning ourselves to offer and
deliver a wide range of financial products and services to the communities
of northeast Kansas."
"The proposed acquisition of Freedom enhances our ability to provide
financial services to a broader base of customers who prefer to deal with
community banks offering a high level of personal service and timely local
decision making. Our philosophy is to preserve the character of the banks
we bring into the Security group so that their customers and employees
remain comfortable and also enjoy the benefits of being involved with a
larger organization that can provide greater financial resources, services,
and benefits to the community and its employees."
Schlobohm voiced his enthusiasm for the proposed acquisition, saying,
"We are excited about joining the MNB organization. It is a financially
strong, publicly owned and locally operated bank holding company that
shares our commitment to quality customer service. We are confident we
will benefit from MNB's resources so that we can continue to be the
leading provider of financial services in Osage County and Beloit, Kansas."
MNB Bancshares, Inc., with total assets of $102,483,453, is a bank
holding company for Security National Bank, which is headquartered in
Manhattan, Kansas. Earlier this year, Security National Bank opened a
branch at 21st and Wanamaker in Topeka. In 1995, MNB acquired
Security State Bank of Auburn, Kansas, which is now a branch of Security
National Bank. The proposed combination will bring total assets to
approximately $145 million.
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