In Brief: Indiana Deal: First Bancorp, Home Building

First Bancorp of Indiana in Evansville has a deal to buy Home Building Bancorp Inc. in Washington, Ind., for $11.3 million in cash and stock.

Home Building is the holding company for Home Building Savings Bank, which has $60 million of assets in two branches. First Bancorp is the parent of First Federal Savings Bank, which has eight branches and $286 million.

First Bancorp said it would pay $43.50 for Home Building's shares, or about 1.6 times book value. The deal, announced Tuesday, is expected to close late in the third quarter or early in the fourth.