3Rivers FCU to Acquire West End Bank

3Rivers Federal Credit Union (Fort Wayne, IN) has entered into an agreement to acquire West End Bank (Richmond, IN).

West End Bank has $298.8 million in assets and operates 4 offices in Indiana.

3Rivers Federal Credit Union has $1.1 billion in assets with 16 offices in a seven county area in northeast Indiana and northwest Ohio.

Under the terms of the purchase and assumption agreement, West End Bancshares estimates that its stockholders will receive between $34.91 and $36.81 in cash consideration from the all-cash deal for each share of West End Indiana Bancshares common stock they own.

The transaction has been unanimously approved by the board of directors of both institutions and is expected to close in the first quarter of 2020, subject to customary closing conditions, the approval of West End Indiana Bancshares’s stockholders, West End Bank’s depositors and regulatory approvals.

The price of the bank's stock is up 22 percent on the news.

Read the press release.