Talmer Bancorp has agreed to buy and recapitalize First Place Bank in Warren, Ohio, in a deal that will work its way through the bankruptcy process.

Talmer, which is based in Troy, Mich., will pay $45 million for First Place Bank's stock and then infuse more than $200 million in capital into the bank "to satisfy regulatory capital requirements, strengthen the bank's capital structure, and support lending activity," the companies said in a press release Monday.

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