XENIA, Ohio -- Ultra Bancorp said it has adjusted its discount on certain loans to reflect prepayments from 1985 through 1988. It is discussing with Mid Am Inc. of Bowling Green, Ohio, what effect the restatement will have on the price Mid Am agreed to pay for Ultra.
The signing of a definitive acquisition agreement was reported April 6.
Ultra said the restatement, as of Sept. 30, 1991, increased loans receivable by $1,865,000, reduced goodwill by $329,000, and increased retained earnings by $1,536,000.
