Provident Financial Group Inc. said Tuesday that it has a deal to buy hometown rival OHSL Financial Corp. for about $57 million of stock.

Provident would exchange slightly more than one-half share for each share of OHSL stock. Provident's shares were at $43.0625 Tuesday afternoon. OHSL's subsidiary, Oak Hills Savings and Loan Co., would be merged into the buyer's Provident Bank subsidiary.

Provident, with $8 billion of assets, operates banks in Ohio and Florida. OHSL has $284 million of assets in six Cincinnati branches. The deal is expected to close in the fourth quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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