Chronicles

Oregon CU makes bank buy

Bend, Ore.-based High Desert Bank has been acquired by Mid Oregon Credit Union, also based in Bend. High Desert Bank, which had struggled through the recession, had one office, $21 million in assets and $23 million in deposits. It was founded in 2007. [Continue]

Local group to purchase MidCountry Bank

MidCountry Financial Corp., a savings and loan holding company based in Macon, Ga., announced June 13 it entered into a definitive agreement to sell its Minnesota-based subsidiary, MidCountry Bank, to MidCountry Acquisition Corp., a corporation organized by Minnesota investors to acquire the bank. [Continue]

United will acquire Powhatan Point

Ohio’s United Bancorp has signed a deal to buy Powhatan Point Community Bancshares, Inc., in a stock and cash transaction worth just under $7 million. Upon completion, Powhatan Point’s subsidiary First National Bank of Powhatan Point, Ohio, will be merged into United’s subsidiary Unified Bank. [Continue]

Indiana bank makes Illinois acquisition

Carmel, Ind.-based Merchants Bancorp will acquire FM Bancorp and its subsidiary, Farmers-Merchants National Bank of Paxton, Ill., later this year. As of March 31, FM Bancorp had total assets of $114.6 million, which included gross loans of $33.6 million and deposits of $99.3 million. [Continue]