Two banks kicked off the Memorial Day weekend with fill-in acquisitions.
Fifth Third Bancorp, Cincinnati, said Friday it would acquire the Ohio branches and deposits of Great Lakes National Bank Ohio for a deposit premium of $11 million. Great Lakes, a unit of TCF Financial Corp., Minneapolis, has $130 million of deposits and eight branches.
Fifth Third, which has $20.2 billion of assets, said the deal should be completed in September, provided regulators approve. Great Lakes branches would be combined with Fifth Third branches in a new unit, Fifth Third Bank Butler County.
Also on Friday, ABC Bancorp, a $630 million-asset bank in Moultrie, Ga., announced it intends to buy Irwin Bankcorp., a $38 million-asset bank in nearby Ocilla, Ga. The $8.3 million stock deal, which requires regulatory approval, is expected to close in the third quarter.