SB Financial Group, Inc. (referred to as SBFG, RBNF), the parent entity of The State Bank and Trust Company, has successfully finalized the acquisition of Marblehead Bancorp, Inc., the owner of The Marblehead Bank in Marblehead, Ohio.
According to the merger agreement, Marblehead Bancorp has now been absorbed by SB Financial, resulting in The Marblehead Bank becoming part of The State Bank and Trust Company.
Shareholders of Marblehead Bancorp received a cash payment of $196.31 for each share, bringing the entire transaction to an estimated value of $5 million.
Currently, SBFG is trading at $20.13, reflecting a decrease of 0.59 percent or $0.12 on the Nasdaq stock exchange.
