Westfield Bancorp in Westfield Center, Ohio has agreed to buy Valley Savings Bank in Cuyahoga Falls, Ohio.

The merger will give Westfield two additional branches and boost its assets to nearly $1 billion, the company said in a press release Tuesday. Westfield currently has $830 million of assets and seven branches, according to data from the Federal Deposit Insurance Corp.

Further financial terms of the deal, which is expected to close in September 2014, were not disclosed.

Westfield made the first acquisition in its 11-year history in 2012, buying Western Reserve Bancorp in Medina, Ohio, for roughly $18 million in cash.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.