MutualFirst Financial Inc. of Muncie, Ind., has agreed to buy the branches, most of the assets, and substantially all the deposits of Fidelity Federal Savings Bank of Marion, Ind., for $20 million in cash.
The seller is the $3.9 billion First Financial Bancorp of Hamilton, Ohio.
The deal, announced Thursday and expected to close in the third quarter, would give the buyer's Mutual Federal Savings Bank the top deposit share in Grant County.
MutualFirst has $838 million of assets and $602 million of deposits. The deal would bring its Mutual Federal Savings Bank $84 million of assets (Fidelity Federal has $110 million) and $81 million of deposits.
