A merger of equals between two Indiana banking concerns has created a $650 million-asset company with 27 branches in 13 counties. Indiana United Bancorp of Greensburg last week bought PTC Bancorp, Brookville, for $46.3 million of stock. PTC shareholders are getting 1.075 shares for each of their shares.

PTC owned People's Trust Co. Indiana United owned Union Bank and Trust Co. of Indiana and Regional Federal Savings Bank.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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