Mainsource Financial Group Inc. of Greensburg, Ind., said a stock offering had raised $28.6 million it will use for buying Madison Bank and Trust Co. in Madison, Ind.
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The acquisition deal was announced in March and is scheduled to close in the third quarter. The results of the stock offering, which closed Friday with 1.7 million shares sold, were announced late Monday.
Mainsource is the $1.5 billion-asset holding company for two Indiana banks - Mainsource Bank in Greensburg and Peoples Trust Co. in Linton - and for Mainsource Bank of Illinois, in Kankakee. It is to pay $29.1 million for the $213 million-asset Madison Bank.
