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NorthWest Indiana Bancorp secures regulatory approvals for AJS Bancorp purchase

After securing all necessary regulatory approvals, Munster, Ind.-based NorthWest Indiana Bancorp expects to complete its acquisition of Midlothian, Ill.-based AJS Bancorp Inc. on Jan. 24, 2019.

The Indiana Department of Financial Institutions on Dec. 19 approved the merger of A J Smith Federal Savings Bank into NorthWest unit Peoples Bank SB.

The merger was previously approved by the Federal Deposit Insurance Corp. The Federal Reserve Board also previously granted NorthWest's request to waive its application filing requirements.