Cornerstone Bank in York, Nebraska, has agreed to buy Bank of Orchard in Nebraska. The $2.7 billion-asset Cornerstone said in a news release that it expects to buy the $35 million-asset Bank of Orchard in the fourth quarter.
Freedom Bancshares in Belington, West Virginia, and Appalachian Financial in Philippi, West Virginia, have filed the application for their planned merger of equals. Freedom, the parent of the $204 million-asset Freedom Bank, and the holding company for the $217 million-asset BCBank agreed to merge in April. The deal is expected to close in the fourth quarter.
SB Financial Group in Defiance, Ohio, has agreed to buy Marblehead Bancorp in Marblehead, Ohio. The $1.3 billion-asset SB Financial said in a news release that it will pay $5 million in cash for the $58.3 million-asset Marblehead. The deal is expected to close in the fourth quarter.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
