German American Bancorp in Jasper, Ind., has agreed to sell two branches in Lexington, Ky. The $5.2 billion-asset company disclosed in a regulatory filing Friday that it will also sell $30.3 million of deposits and $8.9 million of loans to Home Savings and Loan Co. in Kenton, Ohio. The sale is expected to close in the second half of this year. German American did not disclose the price Home Savings will pay.German

Liberty Financial Services in New Orleans has agreed to buy Tri-State Bank of Memphis in Tennessee in a deal involving minority-owned banks.The $860 million-asset Liberty said in a press release Thursday that it will pay cash for the $105 million-asset Tri-State. The deal is expected to close by the end of this year. Liberty did not disclose the price it will pay. “Memphis is extremely rich in history, and we are

United Bankshares in Charleston, W.Va., has agreed to buy Community Bankers Trust in Richmond, Va.The $27 billion-asset United said in a press release Thursday that it will pay $303.3 million in stock for the $1.7 billion-asset parent of Essex Bank. The deal, which is expected to close in the fourth quarter, priced Community Bankers Trust at 167% of its tangible book value. Community Bankers Trust has 18 branches in Virginia and

First Foundation in Dallas is moving into Florida with an agreement to buy TGR Financial in Naples.The $7.1 billion-asset First Foundation said in a press release Thursday that it will pay $294.8 million in stock for the $2.3 billion-asset parent of First Florida Integrity Bank. The deal, which is expected to close in the second half of this year, priced TGR at 174% of its tangible book value.First Florida has

First Bancorp in Southern Pines, N.C., has agreed to buy Select Bancorp in Dunn, N.C.  The $7.7 billion-asset First Bancorp said in a press release Tuesday that it will pay $314.3 million in stock for the $1.8 billion-asset Select. The deal, which is expected to close in the fourth quarter, priced Select at 185% of its tangible book value. Select has 22 branches and three loan-production offices across North Carolina,

Old National Bancorp in Evansville, Ind., has agreed to buy First Midwest Bancorp in Chicago. The $23.7 billion-asset Old National said in a press release Tuesday that it will pay $2.5 billion in stock for the $21 billion-asset First Midwest. The deal, which is expected to close by early 2022, priced First Midwest at 165% of its tangible book value.First Midwest shareholders will own about 44% of Old National’s stock. The

A wave of large bank mergers has lifted aggregate deal value for 2021 above last year's levels.The overall value for transactions announced through June 1 was $28.9 billion, or more than triple the amount for deals struck over the same period a year earlier, based on data compiled by S&P Global Market Intelligence. The value for all deals announced in 2020 was $27.9 billion.Five proposed sellers in 2021 — People's United

People's Bank of Commerce in Medford, Ore., is one step closer to forming a holding company.Shareholders of the $808 million-asset bank voted on May 19 to create PBCO Financial. People's Bank would become a PBCO subsidiary."The bank has considered the formation of a bank holding company for several years," Ken Trautman, People's Bank's CEO, said in a Wednesday press release."In light of the recent merger with Williamette Community Bank and