Buckeye State Bank in Powell, Ohio, has agreed to buy First City Bank in Columbus, Ohio.
The $263 million-asset Buckeye said in a press release that it expects to buy the $73 million-asset First City in the fourth quarter. It did not disclose the price it will pay.
First City has one branch and $64 million of deposits. Buckeye was acquired by a group of local investors led by CEO Shawn Keller in 2014.
“As an employee-owned community bank, we believe this is a rare opportunity to acquire a like-minded financial institution for the benefit of our communities and our shareholders,” Keller said in the release.
Performance Trust and Dinsmore & Shohl advised Buckeye. Keller and Co. and Becker & Lilly advised First City.