NB&T Financial Group Inc. in Wilmington, Ohio, has agreed to buy Community National Corp. in Franklin for $6.8 million in cash and stock.
Carolyn Bradford, Community National's chief executive, said in a press release issued late Tuesday that her $99 million-asset company "recognized we needed additional products, services, and capital. … NBTF provides all three. Additionally, our shareholders will receive a stock that provides them greater liquidity."
Community National's subsidiary bank operates five branches in communities south of Dayton. That branch network would fill in the area between Dayton and Cincinnati for NB&T's $529 million-asset National Bank & Trust Co., which has 15 branches northeast of Cincinnati. The deal is expected to close in the fourth quarter.