SB Financial Completes Marblehead Acquisition

SB Financial Group, Inc., a diversified financial services holding company, has successfully completed the acquisition of Marblehead Bancorp, Inc. Based in Ohio, both entities have merged under the agreement that was previously announced. The acquisition, valued at approximately $5 million, allows SB Financial to extend its footprint in Northwest Ohio, particularly in the Marblehead area. Upon merger completion, Marblehead was integrated into SB Financial, while Marblehead Bank merged with The State Bank and Trust Company. The merger agreement received unanimous approval from both organizations' boards of directors and Marblehead's shareholders. The resulting combined entity will manage about $1.4 billion in assets, enabling it to offer enhanced financial services to the regional community. Legal counsel for SB Financial was provided by Vorys, Sater, Seymour and Pease LLP, while financial advisory services for Marblehead were provided by Janney Montgomery Scott. Marblehead's legal counsel was Shumaker, Loop & Kendrick, LLP.