Harvard State Bank has merged into York-based Conerstone Bank.

Kelly Holthus is president and chief executive of ornerstone. He said Friday that the purchase was completed on Thursday.

Holthus would not provide financial details. Both of the southeast Nebraska banks are privately held.

He said 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 FDIC. 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.