First Federal Lakewood in Ohio has agreed to acquire First Federal Savings and Loan Association of Centerburg in Ohio. The merger between the $3 billion-asset First Federal Lakewood and the $22.5 million-asset First Federal S&LA is expected to close in the first quarter. The terms were not disclosed.
Pueblo Bancorp in Pueblo, Colorado, has agreed to buy Ark Valley Bankshares in La Junta, Colorado. The parent of the $647.4 million-asset Pueblo Bank and Trust should complete its purchase of the $137.2 million-asset Ark Valley in the first quarter, according to an announcement by Olsen Palmer. The price wasn’t disclosed.
First Mid Bancshares in Mattoon, Illinois, has agreed to buy Two Rivers Financial in Burlington, Iowa. The $7.8 billion-asset First Mid said in a press release that it will pay $94.1 million in stock for the $1.1 billion-asset Two Rivers. The deal, which is expected to close in the first quarter, priced Two Rivers at 104% of its tangible book value.
Two Georgia banks are merging. The $192.8 million-asset Mount Vernon Bank is combining with the $23.8 million-asset Bank of Lumber City under the holding company Heart of Georgia Bancshares. Virginia Hand, Bank of Lumber City’s president and CEO, will retire.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
