Horizon Bancorp in Michigan City, Ind., has agreed to buy Lafayette Community Bancorp in Indiana.
The $3.2 billion-asset Horizon said late Tuesday that it will pay $32 million in cash and stock for the $172.1 million-asset Lafayette. The deal is expected to close in the third quarter.
In late December, Horizon bought a nearly 4.7% stake in Lafayette from a shareholder.
“We continue to believe increasing our presence in the Lafayette area will provide Horizon with growth opportunities and the ability to retain and attract seasoned bankers, which are key components to our future success,” Craig Dwight, Horizon’s chairman and CEO, said in a press release.
Horizon has been a very active acquirer in the past two years, reaching deals to buy Kosciusko Financial, CNB Bancorp, Peoples Bancorp and LaPorte Bancorp.
Lafayette Community Bancorp was advised by Renninger & Associates and SmithAmundsen. Horizon was advised by Barnes & Thornburg.
