Heartland BancCorp Completes Acquisition of Northern Kentucky/ Cincinnati-Focused Victory Community Bank
Heartland Banccorp (HLAN)
NASDAQ:AMEX Investor Relations:
ir.heartland.bank
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Source: GlobeNewswire
WHITEHALL, Ohio, April 08, 2020 (GLOBE NEWSWIRE) -- Heartland BancCorp (“Heartland”) (OTCQX: HLAN), the holding company for Heartland Bank, an Ohio state member bank, today announced that, effective April 7, 2020, it had completed the acquisition of Victory Community Bank. As previously announced, the terms of the acquisition provide Victory Bancorp, Inc. (as the sole shareholder of Victory Community Bank) 58,934 shares of Heartland common stock and approximately $35.5 million in cash. At December 31, 2019, Victory Community Bank had total assets of $181 million, a loan portfolio of $147 million, and a deposit base of $137 million with three banking locations in Boone, Kenton and Campbell counties in Kentucky. Its former sister company, Victory Mortgage, LLC, which is affiliated with Fischer Homes, has mortgage lending offices in Louisville, Columbus, Indianapolis and Atlanta. As part of the merger, Victory Mortgage entered into a cooperation agreement with Heartland Bank for cert
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