First Place Bank sale is complete

YOUNGSTOWN — The sale of First Place Bank to Michigan-based Talmer Bancorp has been completed.

Talmer’s total investment in the Warren-based bank is more than $200 million including the purchase price and funds to “recapitalize First Place in order to satisfy regulatory capital requirements and strengthen First Place’s balance sheet,” according to a statement from Talmer.

“First Place Bank has a strong community banking culture, local market knowledge and solid customer relationships. By combining those qualities with Talmer’s financial strength and commitment to helping communities grow and prosper, we have bolstered a valuable banking institution that will continue benefiting local customers, neighborhoods and communities,” said David T. Provost, president and chief executive officer, Talmer Bancorp Inc., in a statement today.

For the complete story, read Thursday's Vindicator and Vindy.com