First Commonwealth’s acquisition of Delaware County Bank and Trust Co.’s parent company will be completed in April.
Following shareholder approval from DCB Financial Corp. on March 16, the merger is expected to be completed on April 3. Delaware County Bank branches will open as First Commonwealth Bank branches on May 22.
“We will begin converting customers the weekend of May 19. During this transition period, customers will see a temporary sign on the doors of the offices,” said Amy Jeffords, a spokeswoman for Indiana, Pa.-based First Commonwealth.
“Permanent building signage will start to transition to First Commonwealth after April 3, but signs will be covered with DCB sign bags until the weekend of May 19.”
There will be an internal appreciation event for the DCB team on April 3, she said.
According to prior Gazette reporting, the $106 million, or about $14.50 per share, transaction will provide the Indiana, Pa.-based First Commonwealth with about $556 million in total assets, $467 million in total deposits, $397 million in total loans and nine full-service banking offices in central Ohio.
Both companies’ board of directors unanimously approved the merger in October.
The Delaware County Bank was chartered in 1950 as a full-service community bank and was the largest financial institution headquartered in Delaware County, according to its website, and operated more than 10 banking center locations in Delaware County. DCB became a subsidiary of DCB Financial, which was incorporated in 1997.
Gazette reporter Brandon Klein can be reached by email or on Twitter at @brandoneklein.