The Office of the Comptroller of the Currency has approved Horizon Bancorp's (HBNC) request to acquire SCB Bancorp of East Lasting, Mich., and its subsidiary, Summit Community Bank.

Horizon, of Michigan City, Ind., announced in November that it had struck a deal to acquire SBC for $18.4 million in cash and stock. The deal is expected to close in the second quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.