Ohio

Burned by a 2007 deal in Florida, Park National in Ohio had several years to reflect on lessons learned before agreeing to buy NewDominion Bank in Charlotte, N.C.

An economic correction is long overdue, the Ohio company says in explaining why now is the wrong time for long-term entanglements like mergers.

NewDominion, which has completed an improbable turnaround, is the last community bank based in Charlotte, N.C.

The results also included a large one-time benefit tied to recently passed tax reform.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.

The activist investor, which has pressured the company in the past to find a buyer, fell short in an attempt last year to gain representation.

If Congress doesn’t take the lead on protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.

The company, which agreed to pay $58 million for Foundation's parent, will gain five branches in Cincinnati.

After a six-month transition period, Mark Midkiff will succeed Bill Hartmann later this year.

The acquisition will give LCNB its first branch and deposits in the Columbus, Ohio, market.