WASHINGTON -- Three Ohio banks have been keeping the Federal Reserve Board busy.
Fifth Third Bancorp has applied to the Fed to buy Shelby County Savings Bank, an Indiana savings association with $57 million of assets. The Cincinnati-based bank plans to incorporate the thrift into its Fifth Third of Southeast Indiana subsidiary, a state-chartered bank with about $380 million of assets. The company has about $1 billion of its $10.2 billion of assets in Indiana, a spokesman said.
In another application, Cleveland-based Society Corp. asked for permission to extend the activities of its equipment-leasing subsidiary, Society Equipment Leasing Co. The company wants to engage in real estate leasing activities, including acting as agent, broker, or adviser, and making commercial loans involving real estate leasing.
Separately, the Fed approved Huntington Bancshares' purchase of CB&T Financial Corp. and CB&T Clarksburg Corp. The deal will give Huntington $1.1 billion of assets in West Virginia and make it that state's 10th-largest bank. Huntington, based in Columbus, has $14 billion of assets.