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Update: Judge Approves Sale of First Place Bank
WARREN, Ohio -- U.S. Judge Brandon L. Shannon this morning approved the sale of the assets of First Place Financial Corp. -- First Place Bank -- to Talmer Bancorp Inc. of Troy, Mich. The sale still must be approved by federal regulators.
The approval followed a hearing this morning in U.S. Bankruptcy Court in the District of Delaware. Talmer will pay $45 million for the bank holding company's assets plus assume $15 million of debt. Talmer has also pledged to infuse $205 million in new capital.
BACKGROUND:
First Place Bank to Keep Name Under Talmer Bancorp
Copyright 2012 The Business Journal, Youngstown, Ohio.
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