Business

Southeast Indiana banks announce merger

(Provided Photo/FCN Bank)

BROOKVILLE, Ind. (Inside INdiana Business) – Two community banks in southeast Indiana are joining forces.

The parents of FCN Bank N.A. in Brookville and Dearborn Savings Bank in Lawrenceburg have signed a merger agreement, which they say will create the largest community bank headquartered in the region.

Financial terms of the deal are not being disclosed; however, the merger is expected to close in the first quarter of 2020.

As part of the deal, Dearborn Savings Bank will merge with and into FCN Bank. Two directors of Dearborn Savings Bank will also be appointed to FCN’s board of directors.

“Today as community banks face ever-increasing challenges to remain independent, it is exciting to see our institutions combine to face these challenges together,” Thomas Horninger, chief executive officer of FCN Banc Corp., said in a news release.

“There is such a commonality between FCN and Dearborn Savings Bank in our cultures, and our commitments to serve our customers and communities. We look forward to working together to continue this legacy as the premier community bank in the region,” Horninger said.

FCN Banc Corp. is the parent of FCN Bank. DSA Financial Corp. is the parent of Dearborn Savings Bank.