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Tri-State Completes Purchase of MDH Investments
"EAST LIVERPOOL, Ohio -- Tri-State 1st Banc. Inc. (Nasdaq TSEO), parent of 1st National Community Bank and Gateminder Corp., has completed its purchase of the assets of MDH Investment Management Inc. The closing occurred Dec. 22.MDH manages some $65 million in 14 states. Charles B. Lang, president of Tri-State, made the announcement Dec. 23. The purchase was announced last July and the Federal Reserve Bank gave its approval Dec. 16, Lang said.Marc D. Hoffrichter, president of MDH, will continue as its president and chief executive officer. All employees of MDH will continue in their capacities at 1216 Forsyth Place. That site is undergoing an expansion that, when completed next month, will offer an additional office and conference room, Hoffrichter said.Visit 1st National Community Bank at www.1stncb.com "