MID AM SIGNS DEFINITIVE AGREEMENT
MID AM SIGNS DEFINITIVE AGREEMENT BOWLING GREEN, Ohio, Dec. 20 /PRNewswire/ -- Mid Am, Inc.
(NASDAQ: MIAM) today announced the signing of a definitive agreement to purchase certain assets and assume deposit liabilities of four offices of Society Bank & Trust located in Montpelier, Liberty Center and Napoleon, Ohio. The four offices will be acquired by First National Bank Northwest Ohio, Bryan, a subsidiary of Mid Am, Inc.
"We continue to expand our presence throughout the northwestern-most counties in the state," commented James F. Burwell, president and chief executive officer of First National Bank. "The acquisition of these four offices will further this growth, particularly in Henry County." The agreement includes the purchase of the buildings housing these banking operations, with the exception of the Napoleon office located at 123 West Washington St. This office will be combined with First National's banking center located at 202 West Clinton Street. Upon consummation of this transaction, First National will have 18 offices in five counties, and Mid Am, Inc. will have 56 banking centers in 12 counties throughout northwest and west central Ohio. Other Mid Am, Inc. affiliates include Mid American National Bank and Trust Company, Bowling Green; The Farmers Banking Company, NA, Lakeview, Ohio; and The Citizens Loan and Building Company, Lima. The transaction is subject to the approval of the appropriate regulatory authorities with closing anticipated in April. -0- 12/20/91 /CONTACT: James F. Burwell, president and chief executive officer of First National Bank Northwest Ohio, 419-636-1164/ (MIAM) CO: Mid Am, Inc. ST: Ohio IN: FIN SU: TNM
DA -- CL018 -- 4514 12/20/91 16:28 EST
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|Date:||Dec 20, 1991|
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