First Federal Bank’s parent company, First Defiance Financial Corp. of Defiance, is buying Commercial Bancshares of Upper Sandusky, parent company of Commercial Savings Bank, for about $63 million.
The deal is expected to close in the first quarter of 2017, the two companies said. Commercial Savings Bank will merge into First Federal Bank.
Upon completion of the purchase, the combined organization is expected to have about $2.8 billion in assets.
First Federal Bank operates 34 full-service branches and 41 ATM locations in northwestern Ohio, southeastern Michigan and Fort Wayne, Indiana.
Commercial Savings Bank, founded in 1920, operates full-service banking locations in Arlington, Findlay, Carey, Upper Sandusky, Harpster and Marion. It has a loan production office in Worthington.
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