YOUNGSTOWN, Ohio - Shareholders of Ohio Bancorp voted, Tuesday for the merger of their $ 1.6 billion-asset company into Cleveland-based National City Corp.
National City, which has $29 billion of assets, agreed earlier this year to purchase the three-bank holding company for about $200 million in a cash-and-stock transaction valued at about $28.25 for each Ohio Bancorp share.
The merger, which has been approved by the Federal Reserve Board, is expected to completed in early October.