New Independent Bancshares Inc., holding company of NWSB, Charlestown, announced in July the signing of a definitive merger agreement by which it will acquire State Bank of Medora.
Pending shareholder and regulatory approvals, the transaction is expected to close by the end of the year. Financial terms of the transaction were not disclosed.
The combined company will have 11 banking centers in southern Indiana and approximately $725 million in total assets. Another location is expected to open in the fourth quarter of this year.
