In Brief: An Indiana Bank to Buy NBD Evansville Branches

Permanent Bancorp in Evansville, Ind., said it has a deal to buy four NBD Bank branches in Evansville for an undisclosed amount.

Permanent, a $273 million-asset company, would acquire the branches' $96 million of deposits and $43 million in commercial and consumer loans. The deal is expected to close during the second quarter.

Donald P. Weinzapfel, chairman and chief executive officer at Permanent, said the NBD offices would replace four of Permanent's 10 branches, because the NBD branches are in more-desirable locations. He added that NBD's commercial loans also would help build Permanent's 18-month-old commercial loan department.

The sale marks the departure of Chicago-based First Chicago NBD Corp., NBD Bank's parent, from the Evansville market. An NBD spokeswoman said the company is leaving Evansville in order to concentrate on other markets where NBD has a more dominant position.

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