Miami Savings Bank in Miamitown, Ohio, has agreed to absorb New Foundation Savings Bank Corp. in Cincinnati.
The $133 million-asset Miami Savings said in a press release that it expects to bring on the $18 million-asset New Foundation in the second quarter.
“Miami Savings and New Foundation have a similar legacy of providing our communities … with excellent customer service for over 115 years,” Derrick Taylor, Miami Savings’ president and CEO, said in the release. The merger “will provide more benefits, financial products and opportunities for New Foundation’s customers.”
Miami Savings was advised by Vorys, Sater, Seymour and Pease. New Foundation was advised by Dinsmore & Shohl.