In Brief: Citfed, PSB Holdings Closer to a Merger

DAYTON, Ohio - Stockholders of Citfed Bancorp and PSB Holdings Corp. recently approved the proposed merger of the two organizations. The merger was expected to be completed on Aug. 31.

The $2.2 billion-asset Citfed planned to distribute 0.6734 share of its stock for each share of PSB common stock in a tax-free exchange.

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