German American Bancorp is buying its sixth community bank in Indiana.
The Jasper, Ind.-based holding company plans to buy $75.9 million-asset CSB Bancorp in a stock swap valued at not less than $22.75 million.
George W. Astrike, German American's chairman, said the deal would strengthen $481 million-asset German American's presence in growing Gibson and Knox counties.
After the merger, which is expected to close early next year, CSB's subsidiary Citizens State Bank would retain its name. One of German American's affiliates, Community Trust Bank, would be merged with Citizens under the Citizens name.