On Thursday, First State Bank announced it had signed a branch purchase agreement to acquire the Advantage Bank branch in downtown Washington Court House. CEO and President of First State Bank Mike Pell said that the acquisition would include deposits of $40 million.
The expansion into Fayette County adds to First State Bank's already established centers in Adams, Brown, and Highland counties.
"We are very pleased to be expanding into the Fayette County market," said Pell. "Over the years, our success has been built on providing superior banking products and exceptional customer service. We believe this approach will be very well received in Fayette County."
Pell added that the Advantage Bank branch customers would be converted to First State Bank in early 2014 and they will have access to all of First State Bank's products and services.
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