Cincinnati’s First Financial Bank has signed an agreement to acquire all 16 Ohio retail banking offices of Wilmington-based Liberty Savings Bank.

First Financial will pay a 6.41 percent net premium on Liberty Savings’ deposits, or $22.2 million, based on the deposit balance. The $6.3 billion-asset bank also agreed to buy $143.3 million in performing loans, largely made up of residential mortgages and commercial real estate loans.

Liberty’s branches held $346.2 million in deposits on March 31.

First Financial CEO Claude Davis said the bank will operate 70 offices from metro Cincinnati through Dayton when the deal is closed in the third quarter. The bank plans to retain the vast majority of employees from Liberty Savings the branches, but did not disclose the number of workers at the offices.

Cincinnati’s First Financial Bank has signed an agreement to acquire all 16 Ohio retail banking offices of Wilmington-based Liberty Savings Bank.

First Financial will pay a 6.41 percent net premium on Liberty Savings’ deposits, or $22.2 million, based on the deposit balance. The $6.3 billion-asset bank also agreed to buy $143.3 million in performing loans, largely made up of residential mortgages and commercial real estate loans.

Liberty’s branches held $346.2 million in deposits on March 31.

First Financial CEO Claude Davis said the bank will operate 70 offices from metro Cincinnati through Dayton when the deal is closed in the third quarter. The bank plans to retain the vast majority of employees from Liberty Savings the branches, but did not disclose the number of workers at the offices.

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