Several companies kicked off 2011 by completing acquisitions.
F.N.B. Corp. in Hermitage, Pa., said Monday that it had completed its acquisition of Comm Bancorp on Jan 1. The deal was valued at $70 million. Comm's branches will continue to operate as Community Bank and Trust until Feb. 19, when they will be integrated with the $9 billion-asset acquirer's First National Bank of Pennsylvania.
German American Bancorp Inc. in Jasper, Ind., also completed its purchase of the $326 million-asset American Community Bancorp Inc. in Evansville on Jan. 1. The $1.3 billion-asset German American issued about 1.4 million shares of common stock to American Community shareholders in a deal valued at $2.6 million based on German American's Friday closing price.
First Financial Bank and Trust Co. in Miami, Fla., also said Monday that it completed its purchase of the $50 million-asset Texas Country Bank in Lakeway, Texas. The companies did not disclose the sale price.
First Financial's parent, Shay Investment Services, which provides investment advisory and custody services to institutional clients, has had a presence in Texas for years, but the deal finally lets its bank enter the state.