Warren-based company buys Columbus area bank

WARREN — First Place Financial Corp. intends to beef up its presence in central Ohio with the acquisition of a banking company based in suburban Columbus.

Warren-based First Place has reached an agreement to buy OC Financial, the Dublin, Ohio-based holding company for Ohio Central Savings. The bank has a branch in Columbus and one in Cleveland Heights.

The stock transaction is valued at $7.2 million and is expected to close by the end of June.

Steven Lewis, president and chief executive of First Place, said the holding company of First Place Bank has built a strong mortgage and commercial lending operation in the Columbus area. Adding Ohio Central Savings will give First Place a “retail deposit hub” to support the lending operations, he said. First Place has four lending offices in central Ohio.

For more on this story see Friday’s Vindicator or Vindy.com.