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First Merchants Corp Announces Completion Of Merger With CFS Bancorp


Tuesday, 12 Nov 2013 04:29pm EST 

First Merchants Corporation announced that it has completed its previously announced merger with CFS Bancorp, Inc on November 12, 2013. In connection with the merger, Citizens Financial Bank has also merged with and into First Merchants Bank. The combined First Merchants Bank has 95 banking centers in Illinois, Indiana and Ohio and approximately $3.5 billion in loans, $4.3 billion in deposits, and total assets and shareholders` equity of $5.5 billion and $653 million. The full integration of Citizens Financial Bank under the First Merchants brand will be completed during the 1st quarter of 2014. As part of the $140 million merger, shareholders of CFS Bancorp will receive 0.65 shares of First Merchants Corporation common stock for each share of CFS Bancorp common stock held. CFS Bancorp shareholders will receive information shortly on how to exchange their CFS Bancorp shares for shares of the merged company. 

Company Quote

20.44
0.03 +0.15%
27 Aug 2014