Shareholders of Sobieski Bancorp of South Bend, Ind., have approved its sale to $ 428-million MFB Corp. of Mishawka, Ind.
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The vote was held Wednesday and the shareholders' approval was the last the $1.03 million deal needed. Sobieski's two branches were to take the MFB Financial name starting today.
Sobieski learned in May 2002 that one of its loan officers, who later pleaded guilty to bank fraud, had made a series of fraudulent loans totaling $9.6 million. The discovery sent the company into a tailspin from which it never recovered.
