Pontiac Bancorp in Pontiac, Illinois, has agreed to buy Ottawa Bancorp in Ottawa, Illinois. The parent of the $1.2 billion-asset Bank of Pontiac will pay $45.5 million in cash for the holding company of the $356 million-asset OSB Community Bank. The deal is expected to close in the first quarter.
Profinium Financial Holdings in Fairmont, Minnesota, has agreed to buy F&M Community Bank in Preston, Minnesota. The parent of the $533.1 million Profinium Bank did not disclose the price it will pay for the $211.1 million-asset F&M.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
