ST. LOUIS -- Magna Group Inc. said it completed a definitive agreement to acquire Goreville Bancorp. in southern Illinois.

Magna said it would exchange 123.7 shares of its common stock for each of the 4,610 shares of Goreville, giving the deal an indicated value of about $10.5 million.

Goreville Bancorp. had assets of $67 million and stockholders' equity of $8 million at March 31.

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