MainSource Merger Includes Sale of Multiple Branches
Cincinnati-based First Financial Bancorp (Nasdaq: FFBC) and Greensburg-based MainSource Financial Group Inc. (Nasdaq: MSFG) have announced the pending sale of five Indiana MainSource Bank branches. The deal with Jasper-based German American Bancorp Inc. (Nasdaq: GABC) is connected to First Financial’s planned $1 billion acquisition of MainSource, which is awaiting U.S. Department of Justice and Federal Reserve Board of Governors approval.
The banks say all 28 employees affected by the branch sale will become German American employees once regulatory hurdles are cleared. MainSource Chief Executive Officer Archie Brown says "I am pleased to announce that German American Bancorp will be purchasing the five MainSource branches required to be divested under our agreement with the Department of Justice. This signals another important step to finalizing our merger with First Financial and we look forward to working with both banks to ensure a smooth transition for all those involved."
The five branches are located in Decatur and Bartholomew counties and include:
- Greensburg Plaza Decatur County 304 E 10th Street, Greensburg, IN 47240
- Columbus Downtown Bartholomew County 529 Washington Street, Ste 100 Columbus, IN 47201
- Columbus Drive Thru Bartholomew County 803 Washington Street, Columbus, IN 47201
- Columbus North Bartholomew County 1901 25th Street, Columbus, IN 47201
- Columbus West Bartholomew County 2310 W Jonathan Moore Pike, Columbus, IN 47202
You can connect to more about the announcement by clicking here.