ANN ARBOR, Mich. - Republic Bancorp Inc. said it has agreed to acquire Horizon Financial Services Inc., a thrift holding company in the Cleveland area, for about $35.7 million in stock.

Republic, which has $547 million in assets. would approach its $1 billion goal by adding Horizon's $379 million, said Jerry D. Campbell, chairman, president, and chief executive officer of Ann Arbor-based Republic. Closing is expected in the second quarter of 1993.

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