Evansville, Ind.-based Fidelity Federal Bancorp is acquiring the stock of Kirksville, Mo.-based Rockhold Bancorp.
Under the deal announced July 7, Rockhold’s subsidiary, Bank of Kirksville, will merge into Fidelity and its subsidiary, the $3.3 billion, Evansville, Ind.-based United Fidelity Bank. The combined bank will have approximately $4.6 billion in assets. The transaction is expected to close in the fourth quarter of this year.
“It has been our continued goal to move into markets with stable core deposit funding, and dynamic lending opportunities,” said Don Neel, president and CEO of Fidelity Federal and United Fidelity. As part of our opportunistic growth strategy, we also seek out prime locations and identify outstanding employees. Our partnership with Bank of Kirksville meets all those goals. This is an exciting time for not only United but for all our customers, associates, and communities.”
Norman Belitz, CEO of the $481.2 million Bank of Kirksville, said, “local communities will benefit from their increased loan capacity and product portfolio. In addition to their exceptional reputation for serving their communities, we have found that United’s philosophy with respect to customer and community service mirrors our own.”
Cummings & Co. LLC served as Fidelity’s financial advisor and SmithAmundsen provided legal counsel to the company. The Capital Corp. served as Rockhold’s financial advisor and Stinson LLP provided legal counsel.