Cambridge, Ohio, said it would buy Cincinnati-based Westwood Homestead Financial Corp. in a $27.2 million deal.

Camco, a $727 million-asset company, would exchange 0.611 share of its stock and $5.20 in cash for each share of Westwood. It expects to complete the deal in the first quarter.

Westwood, which has $141 million of assets, would continue to operate its two Cincinnati-area branches independently. Camco owns four other banking companies, with 31 branches in Ohio, Kentucky, and West Virginia.

Camco also operates two mortgage banking subsidiaries and a title company.

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