Peoples Bancorp of Auburn, Ind., said this week that it plans to buy a southwestern Michigan thrift for $14.4 million of stock.

Peoples, a $317 million-asset thrift, expects to complete the acquisition of $101 million-asset Three Rivers (Mich.) Financial Corp. in the first quarter. After the deal's closing, the thrifts would continue to operate under separate names within the Peoples holding company.

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