Under the agreement, CSB will acquire Premier’s two Wooster branch office locations and total loans of approximately $8.5m, and will assume total deposits of approximately $80m.
The loans are primarily owner-occupied commercial real estate, commercial and industrial. The deposits are primarily core and time deposits, including checking, money market, savings accounts and certificates of deposit.
The Commercial and Savings Bank (CSB) has agreed to acquire certain assets and assume certain Premier Bank & Trust’s Wooster branches.
Under the agreement, CSB will acquire Premier’s two Wooster branch office locations and total loans of approximately $8.5m, and will assume total deposits of approximately $80m.
Steiner said in a statement this transaction will extend CSB’s retail banking presence into the Wooster market and complement its existing commercial banking and trust activities already serving the area.
Premier Bank & Trust president and CEO Rick Hull said the transaction with CSB fits bank’s strategic plan, which is to concentrate its banking activities in the core market of Stark
CSB, a wholly owned subsidiary of CSB Bancorp, a financial holding company headquartered in Millersburg, Ohio, with approximate assets of $445 million. CSB provides a complete range of banking and other financial services to consumers and businesses with fourteen banking centers in Holmes, Tuscarawas, Wayne and Stark counties and Trust offices located in Millersburg and Wooster, Ohio.
