FCN Banc and DSA Financial have signed an agreement which will see Dearborn Savings Bank merge with and into FCN Bank.
With FCN based in Brookville, IN and Dearborn Savings Bank in Lawrenceburg, IN, the merger will create the largest community bank headquartered in the southeastern Indiana region.
Subject to customary regulatory approvals, the deal is expected to close in the first quarter of 2020. Once the merger is completed, FCN will continue to serve the communities that both banks have served for more than 100 years, according to the announcement.
FCN Bank President and CEO Thomas Horninger said that as community banks face ever-increasing challenges to remain independent, it is exciting to see the two institutions combine to face these challenges together.
“There is such a commonality between FCN and Dearborn Savings Bank in our cultures, and our commitments to serve our customers and communities,” said Horninger. “Together we can continue to offer great products and service options, along with experienced bankers to compete with the bigger banks, while still maintaining the community values that our customers have grown accustomed to. We look forward to working together to continue this legacy as the premier community bank in the region.”
FCN Bank has five branches in Brookville, Batesville, Sunman and Connersville in Indiana and in Harrison, OH. Founded in 1901, today the bank has $458 million in total assets.
Dearborn Savings Bank operates from one office in Lawrenceburg. Started in 1890, DSB has $131 million in total assets today.
