Second Bancorp., Warren, Ohio, has agreed to buy Trumbell Financial Corp. in a stock-swap deal worth $122.4 million.

Second, a $931 million-asset bank holding company, would exchange 3.78 shares for each of Trumbell's 869,364 outstanding shares. The transaction, which is expected to close during the fourth quarter, represents 3.2 times Trumbell's book value and 31.6 times the company's estimated 1998 earnings per share.

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