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REPUBLIC BANCORP SHAREHOLDERS APPROVE MERGER WITH HORIZON

 ANN ARBOR, Mich., March 5 /PRNewswire/ -- Republic Bancorp Inc. (NASDAQ-NMS: RBNC) announced at its special meeting of shareholders held today that it received shareholder approval to merge with Horizon Financial Services, Inc. (NASDAQ-NMS: HFIN) with Republic being the surviving corporation.
 Mr. Jerry D. Campbell, chairman of the board of Republic, commented, "We're pleased to have received the approval from our shareholders of the merger. We understand that today Horizon's shareholders voted in an overwhelming majority to approve the merger as well. We expect the merger to be completed by the end of the second quarter of 1993, subject to certain regulatory approvals.
 Republic Bancorp Inc. is a $734 million registered bank holding company with headquarters in Ann Arbor. The company owns seven subsidiaries with 58 offices in 11 states, including Michigan, Ohio, Illinois, Missouri, Iowa, Virginia, Maryland, North Carolina, Georgia, Florida and Alabama, and has become one of the region's leading sources of single-family residential mortgages. The company's common stock trades on the NASDAQ stock market under the symbol RBNC.
 -0- 3/5/93
 /CONTACT: Dana M. Cluckey of Republic Bancorp, 517-725-7337/
 (RBNC HFIN)


CO: Republic Bancorp Inc.; Horizon Financial Services, Inc. ST: Michigan, Ohio IN: FIN SU: TNM

ML -- DE007 -- 3375 03/05/93 10:30 EST
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Publication:PR Newswire
Date:Mar 5, 1993
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