Community Bancshares in McArthur, Ohio, has agreed to buy Citizens Bank of Asheville in Ohio.

The $767 million-asset company will pay $12.2 million, or $40 a share, in cash for the $105 million-asset Citizens Bank, according to Columbus Business First.

Community Bancshares has 13 branches; Citizens has four offices.

Austin Associates and Shumaker, Loop & Kendrick advised Community Bancshares. Performance Trust Capital Partners and Tucker Ellis advised Citizens.

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