River Valley Bancorp completes acquisition of Dupont State Bank
Saturday, November 10, 2012 4:00 AM
River Valley Bancorp completed its acquisition of Dupont State Bank on Friday.
Under the terms of the agreement, River Valley Bancorp acquired all outstanding shares of common stock of Dupont State Bank for $5.7 million in cash.
In conjunction with the acquisition, River Valley Financial Bank converted from a federally chartered thrift to a state chartered bank by merging with and into Dupont State Bank, which has been renamed River Valley Financial Bank.
With the completion of the merger, the combined company will have approximately $493 million in assets, $310 million in loans and $385 million in deposits.
The combined company will have 12 branches across southeastern Indiana and northern Kentucky.