Tan Boen Kim

Farmers & Merchants Bancorp, Inc. Announces Agreement to Acquire Peoples-Sidney Financial Corporation, Sidney, Ohio

Retrieved on: 
Tuesday, June 14, 2022
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Peoples operates from its main office in Sidney, Ohio, two full-service branch offices located in Anna, Ohio and Jackson Center, Ohio, and a drive-through facility in Sidney.

Key Points: 
  • Peoples operates from its main office in Sidney, Ohio, two full-service branch offices located in Anna, Ohio and Jackson Center, Ohio, and a drive-through facility in Sidney.
  • Based on FMAOs closing share price as of June 14, 2022 of $34.28, the implied aggregate acquisition value equals $27.0million.
  • Peoples expands F&Ms community banking franchise into compelling Sidney, Ohio and surrounding markets in Shelby County.
  • About Farmers& Merchants State Bank:
    The Farmers & Merchants State Bank is a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897.

FINWARD BANCORP AND PEOPLES BANK COMPLETE ACQUISITION OF ROYAL FINANCIAL, INC. AND ROYAL SAVINGS BANK

Retrieved on: 
Monday, January 31, 2022
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MUNSTER, Ind., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Finward Bancorp (Nasdaq: FNWD) (the Bancorp or Finward), the holding company for Peoples Bank, announced today that it has successfully completed the previously announced acquisition of Royal Financial, Inc. (OTCQX: RYFL) (Royal Financial) and its wholly-owned Illinois state chartered savings bank subsidiary, Royal Savings Bank, of Chicago, Illinois, in a stock and cash transaction.

Key Points: 
  • MUNSTER, Ind., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Finward Bancorp (Nasdaq: FNWD) (the Bancorp or Finward), the holding company for Peoples Bank, announced today that it has successfully completed the previously announced acquisition of Royal Financial, Inc. (OTCQX: RYFL) (Royal Financial) and its wholly-owned Illinois state chartered savings bank subsidiary, Royal Savings Bank, of Chicago, Illinois, in a stock and cash transaction.
  • Simultaneous with the acquisition of Royal Financial by Finward, Royal Savings Bank merged with and into Peoples Bank.
  • Upon completion of the integration process, Royal Savings Bank customer accounts will automatically change to Peoples Bank accounts with no action required on the part of the customer.
  • We are very pleased to close our merger with Finward Bancorp and Peoples Bank, said Leonard Szwajkowski, President and CEO of Royal Financial.

Royal Financial, Inc. Announces Earnings for First Quarter of Fiscal Year 2022

Retrieved on: 
Monday, November 8, 2021
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Net Income for the first quarter of fiscal year 2022 was $1.5 million, or $0.58 per common share, compared to $785,000, or $0.31 per common share, in the same period of fiscal 2021.

Key Points: 
  • Net Income for the first quarter of fiscal year 2022 was $1.5 million, or $0.58 per common share, compared to $785,000, or $0.31 per common share, in the same period of fiscal 2021.
  • Total interest income for the quarter ended September 30, 2021, increased $621,000 (13.3%) from September 30, 2020.
  • Total deposit interest expense decreased $363,000 (53.1%) from the prior year due to the falling rate environment during fiscal year 2020.
  • The Company reversed the allowance for loan losses this quarter $125,000 due to the well performing loan portfolios.

Potomac Bancshares, Inc. To Present at Boenning & Scattergood Investor Forum

Retrieved on: 
Friday, September 24, 2021
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CHARLES TOWN, W.Va., Sept. 24, 2021 /PRNewswire/ --Potomac Bancshares, Inc. (OTC: PTBS), the one bank holding company for Bank of Charles Town, also known as The Community's Bank, announced today they will present at the investor forum hosted by Boenning & Scattergood on Monday, September 27, 2021.

Key Points: 
  • CHARLES TOWN, W.Va., Sept. 24, 2021 /PRNewswire/ --Potomac Bancshares, Inc. (OTC: PTBS), the one bank holding company for Bank of Charles Town, also known as The Community's Bank, announced today they will present at the investor forum hosted by Boenning & Scattergood on Monday, September 27, 2021.
  • A copy of Potomac Bancshares' presentation can be found on their Investor Relations website at https://ir.mybct.bank.
  • Founded in 1871 and celebrating their 150th year of service, BCT - Bank of Charles Town, also known as The Community's Bank, is a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC:PTBS).
  • BCT's offices are located in Jefferson and Berkeley Counties (WV), Washington County (MD), and Loudoun and Stafford Counties (VA).