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First Federal Savings and Loan Association of Lakewood in Ohio has agreed to acquire Belpre Savings Bank in Belbre, Ohio.
August 20 -
Depositors at mutuals in Ohio and Massachusetts have approved measures making it more difficult for their institutions to convert to stock ownership. Still, many industry observers believe the mutual industry is poised for more consolidation.
August 19 -
The $120 million-asset mutual thrift filed its application with federal regulators this month. Citizens expects the formation to be completed by the first quarter, Chief Executive Tommy Johnson said in an interview.
August 17
Union Federal Savings & Loan Association and First Federal Savings & Loan Association, two mutuals in Kewanee, Ill., have agreed to merge.
As mutual thrifts, the merger will not involve financial considerations. The institutions expect the transaction to close in the first quarter. The combined company will operate as Union Federal Savings & Loan.
The $107 million-asset Union, founded in 1890, operates five branches in Illinois, including a location in East Moline, and one branch in Madison, Wis. The $62 million-asset First Federal, established in 1882, operates three branches in Illinois.