SB Financial Group in Defiance, Ohio, has bought a former Fifth Third Bank branch in Bowling Green, Ohio.
The $719 million-asset holding company for State Bank did not disclose financial terms of the acquisition. The former branch, located on North Main Street in Bowling Green, held $48.5 million in deposits at June 30, according to the Federal Deposit Insurance Corp. Fifth Third closed the branch in November, according to the Toledo Blade.
"Bowling Green is a natural extension of our current presence in northwestern Ohio and complements similar strategic expansions into the markets of Findlay and Dublin, Ohio, during 2015," SB Chief Executive Mark Klein said in a news release.
SB plans to reopen the building as a State Bank branch in the fourth quarter of 2016.
The $139 billion-asset Fifth Third Bancorp, in Cincinnati, has recently sold branches in St. Louis and Pittsburgh, following its June announcement of a plan to either close or sell about 100 branches nationwide.