FSB Financial in New Madison, Ohio, has applied to buy Republic Banking Co. in Republic, Ohio.
FSB, the parent of the $246 million-asset Farmers State Bank, applied with the Federal Deposit Insurance Corp. on June 11 to buy the $60 million-asset Republic Bank. The deal is expected to close in the third quarter; the price wasn’t disclosed.
Republic shares “our core community banking philosophy: empowered local management and employees dedicated to serving our customers and communities,” Andy Brown, Farmers States’ president and CEO, said in a press release announcing the deal.
Cummings & Co. and Vorys, Sater, Seymour and Pease advised FSB. Janney Montgomery Scott and Shumaker, Loop & Kendrick advised Republic.