CINCINNATI Peoples Community Bancorp Inc. said late Thursday that it had agreed to buy $57 million-asset Kenwood Bancorp Inc. in Kenwood, Ohio, for $25.22 a share, or about $7.5 million.
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Kenwood is the parent of 109-year-old Kenwood Savings Bank. Its three branches near Cincinnati would become branches of Peoples Community Bank.
The deal is expected to close next quarter and would be $388 million-asset Peoples fourth acquisition in the last 18 months. In its most recent completed deal it bought Market Financial Corp. in Mount Healthy, Ohio, for $16.4 million.
