In Briefs: Fifth Third Announces $96M Ohio Thrift Deal

Fifth Third Bancorp said Friday it has agreed to buy Enterprise Federal Bancorp of West Chester, Ohio, for about $96 million in stock.

Enterprise has two acquisitions pending that would bring its assets to $550 million by the time Fifth Third acquires it in the first quarter. The deal would give Fifth Third 11 additional branches in its home market. Enterprise, the area's largest thrift, operates as Enterprise Federal Savings Bank.

The deal is the second this month announced by Cincinnati-based Fifth Third. The $28 billion-asset company announced Sept. 8 it would buy $165 million-asset Ashland Bankshares Inc. of Ashland, Ky. That deal is also supposed to close in the first quarter.

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