HMN Financial in Rochester, Minn., has agreed to buy certain assets and liabilities of Kasson State Bank.

HMN, the parent of the $576 million-asset Home Federal Bank, said in a press release Friday that the deal will include Kasson State's two branches. The price was not disclosed for the deal, which is expected to close in the third quarter.

"We are excited to expand our banking operations into the Kasson community as it is a natural extension of our existing banking locations," Brad Krehbiel, HMN's president, said in the release.

Colin Wilhelm is a reporter for American Banker.

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