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 press 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.
Marblehead has two full-service branches and a limited-service branch.
“Both banks share a rich past, a strong brand and are deeply committed to their employees, their customers, and the communities they serve,” Mark Klein, SB Financial’s chairman, president and CEO, said in the release. “This cultural alignment is the foundation each has embraced for well over a century to develop authentic and meaningful relationships with each of our stakeholders.”
Vorys, Sater, Seymour and Pease advised SB Financial. Janney Montgomery Scott and Shumaker, Loop & Kendrick advised Marblehead.