Merger Details - SB Financial Group, Inc successfully closed the acquisition of Marblehead Bancorp, Inc, merging Marblehead Bank into State Bank [1] - The merger was unanimously approved by the Boards of Directors of both bank holding companies and their subsidiary banks, and adopted by Marblehead shareholders [1] - Marblehead shareholders received $196.31 in cash per share, valuing the transaction at approximately $5.0 million [2] Strategic Impact - The merger extends SB Financial's presence in Northwest Ohio, enhancing its ability to serve the Marblehead community with expanded financial products and services [3] - The combined organization now manages approximately $1.4 billion in assets, positioning it to deliver exceptional service and innovative financial solutions [3] Company Overview - SB Financial Group, Inc is a diversified financial services holding company headquartered in Defiance, Ohio, operating through 25 offices and 25 ATMs across Ohio, Indiana, and Michigan [5] - State Bank provides a full range of financial services including wealth management, private client services, mortgage banking, and commercial and agricultural lending [5] - Marblehead Bancorp, headquartered in Marblehead, Ohio, operates two full-service bank branch offices and is the only brick-and-mortar bank on the Marblehead Peninsula [6] Legal and Financial Advisors - Vorys, Sater, Seymour and Pease LLP served as legal counsel to SB Financial [4] - Janney Montgomery Scott served as financial advisor to Marblehead and provided a fairness opinion to its Board of Directors [4] - Shumaker, Loop & Kendrick, LLP served as Marblehead's legal counsel [4]
SB Financial Group Announces Completion of Acquisition of Marblehead Bancorp