CIRCLEVILLE – Savings Bancorp, Inc., an Ohio company headquartered in Circleville, Ohio, the holding company of The Savings Bank, has announced the completion of its acquisition of Standing Stone Bank, a chartered commercial bank of the ‘State of Ohio headquartered in Lancaster, Ohio.
After closing, The Savings Bank has approximately $ 531 million in assets, $ 303 million in loans and $ 465 million in total deposits.
“I am pleased to announce that we have completed the acquisition of Standing Stone Bank, and I am delighted to welcome all of our new customers and employees to the Caisse d’Epargne. The Savings Bank has been helping people in our communities achieve their personal, financial and business goals since 1912, ”said Jeff Farthing, President and CEO of The Savings Bank.
“I am confident in our ability to provide extended and improved services to our new clients and meet their professional and personal financial needs,” said Farthing.
The acquisition of Standing Stone Bank offers The Savings Bank the opportunity to expand its presence in the Lancaster market. The merger was completed as of November 12.
ProBank Austin, LLC, served as financial advisor and Shumaker, Loop and Kendrick, LLP served as legal advisor to Savings Bancorp, Inc. and The Savings Bank in the transaction. Gerrish Smith Tuck has served as financial advisor and legal counsel to SSNB, Inc. and Standing Stone Bank.
Caisse d’Épargne offers its clients a full range of products, including traditional, personal and commercial loan and deposit solutions. In addition, Caisse d’Epargne customers have the option of convenient online and mobile banking and deposit checks on mobile. Dedicated to providing exceptional customer service while enhancing shareholder value, the Caisse d’Epargne has been a trusted and respected community institution since 1912.
About Savings Bancorp, Inc. and Caisse d’Épargne
Savings Bancorp, Inc. is the holding company of The Savings Bank. The Savings Bank, founded in 1912, is a full-service commercial and retail bank based in Circleville, Ohio.
With the acquisition of Standing Stone Bank, The Savings Bank now operates full-service offices in Circleville, Ashville, Williamsport, London and Lancaster, as well as a loan production office in Worthington. More information can be found at www.thesavingsbankohio.bank.