Ambanc buying branch from First Indiana.

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.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER