Sky Financial Group in Bowling Green, Ohio, is buying the $297 million-asset Belmont Bancorp of Bridgeport for $69.2 million.
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The deal, announced Wednesday, is expected to close in the second quarter.
Sky would receive 72.5% of Belmont shares by exchanging 0.219 of its own shares for each share of Belmont. Sky would pay $6.15 a share in cash for the rest of Belmont's shares.
The $15 billion-asset Sky plans to merge Belmont into its Ohio Valley region.
It said the acquisition would boost its market share in Belmont, Tuscarawas, and Harrison counties in Ohio and Ohio County in West Virginia.
Belmont has 12 branches in those counties. Sky has nearly 300 branches in Indiana, Michigan, Ohio, Pennsylvania, and West Virginia.
