VINCENNES, Ind. -- Ambanc Corp.'s wholly owned subsidiary American National Bank of Vincennes intends to purchase the $26.8 million of deposits of Mid-West Federal's Princeton Banking Center in Princeton, Indiana, from First Indiana Bank.

The sale is subject to the negotiation of a binding agreement between First Indiana and American National and the approval of several regulatory authorities.

Mid-West Federal's customer accounts will remain unchanged until after the closing of the transaction, which is expected to occur by yearend.

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