The $132 million-asset Miami Savings expects to buy the $18 million New Foundation in the second quarter. Financial details were not disclosed.
“The combining of our two institutions will provide more benefits, financial products and opportunities for New Foundation’s customers,” Derrick Taylor, Miami Savings’ president and CEO, said in a press release.
Vorys, Sater, Seymour and Pease advised Miami Savings. Dinsmore & Shohl advised New Foundation.