trending Market Intelligence /marketintelligence/en/news-insights/trending/ssqnxsuev3zzs6j1dc1cvg2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Horizon Bancorp unit to acquire 1 First Farmers Bank & Trust branch

Municipal-Run Fiber Tops 280000 Subscribers In 2018

The Essential Conference 2019 Highlight Reel

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next


Horizon Bancorp unit to acquire 1 First Farmers Bank & Trust branch

Michigan City, Ind.-based Horizon Bank NA agreed to acquire certain loans and alldeposits of a First Farmers Bank& Trust branch, located in Bargersville, Ind.

Under the deal terms, Horizon Bank will acquireapproximately $5.0 million in loans and assume approximately $15 million indeposits. The bank does not plan to purchase the branch's fixed assets orassume its underlying lease.

Horizon Bank plans to consolidate the branch into itsexisting branch located at 507 Three Notch Lane, Bargersville, Ind. HorizonBank also plans to offer jobs to all workers at the First Farmers Bank branch.

Gene Miles, president and CEO of First Farmers, said in therelease that the company decided to leave the market in order to focus on theagricultural sector and in geographies closer to the bank's branch network.

Barnes & Thornburg LLP is serving as legal counsel toHorizon. Renninger & Associates LLC is serving as financial adviser andSmithAmundsen LLC is serving as legal counsel to First Farmers.

Horizon Bank is a unit of Michigan City, Ind.-basedHorizon Bancorp ($2.92billion) and First Farmers Bank is a unit of Converse, Ind.-based ($1.56 billion).