Local Bank Expanding Operations To Cincinnati Market

first_imgMainSource Financial Group will be soon expanding banking operations to the Cincinnati market.The Greensburg-based bank announced that it has entered into a definitive agreement to acquire all of the common stock of MBT Bancorp (MBT), headquartered in West Harrison. MBT is the parent of Merchants Bank and Trust Company.Merchants Bank and Trust Co. operates six branches spanning from Dearborn County to the greater Cincinnati communities of Harrison, Western Hills and Hyde Park. The bank will merge with MainSource.“We are thrilled to announce this partnership,” commented Archie M. Brown, Jr., President and Chief Executive Officer of MainSource. “It strengthens our footprint in Dearborn County and enhances our growth strategy in Cincinnati, an area where we have already been investing, and presents an opportunity to prudently and accretively deploy our strong capital base.”“Given the similarity in our cultures and community-based approach, MainSource was the ideal choice as MBT’s partner,” commented Donald Patterson, President and Chief Executive Officer of MBT. “We believe that our employees, customers and community will benefit greatly from this partnership.”The merger is expected to be completed in the third quarter of 2014, subject to the satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of MBT.MainSource Financial Group is listed on the NASDAQ National Market (under the symbol: “MSFG”) and is a community-focused, financial holding company with assets of approximately $2.9 billion. MainSource operates 74 full-service offices throughout Indiana, Illinois, Kentucky and Ohio.last_img

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