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First Citizens Banc (FCZA) in Sandusky, Ohio, will close three branches to cut costs.
March 13 -
First Citizens Banc Corp (FCZA) in Sandusky, Ohio, has exited the Troubled Asset Relief Program.
February 18 -
First Citizens Banc (FCZA) in Sandusky, Ohio, has raised $25 million to exit the Troubled Asset Relief Program.
December 20 -
First Citizens Banc Corp Inc. in Sandusky, Ohio, announced Friday that it has a deal to buy the $279 million-asset Futura Banc Corp. in Urbana, Ohio, for $63 million in cash and stock.
June 11
First Citizens Banc in Sandusky, Ohio, has agreed to buy TCNB Financial in Dayton, Ohio.
The $1.2 billion-asset First Citizens will pay about $17.2 million in cash for the $105 million-asset TCNB. The transaction is expected to close in the first quarter of next year.
TCNB has three branches, $75 million in loans and $93 million in deposits. This acquisition is expected to be accretive to First Citizens' 2015 earnings and have a tangible book value earn-back of less than four years.
"We look forward to serving [TCNB's] customers and the Dayton market and providing them a broader array of financial products," James Miller, First Citizens' president and chief executive, said in a late Thursday press release. TCNB "fits well with our business model of attracting deposits in rural markets and lending excess funds in urban markets."
Performance Trust Capital Partners and Silver, Freedman, Taff & Tiernan advised TCNB. Keefe, Bruyette & Woods and Vorys, Sater, Seymour & Pease advised First Citizens.
