UCFC to acquire Ohio Legacy

YOUNGSTOWN

Youngstown-based United Community Financial Corp., parent of The Home Savings and Loan Co., and Ohio Legacy Corp. have entered into a definitive agreement and plan of merger pursuant to which UCFC will acquire Ohio Legacy, parent company of Premier Bank & Trust.

The transaction is valued at about $18 per Ohio Legacy common share or about $40.3 million.

Premier Bank & Trust is headquartered in North Canton, has about $320 million in total assets and operates four full-service banking centers located in North Canton, Fairlawn and St. Clairsville, Ohio as well as a full-service wealth management and trust division.

“We are very pleased to be partnering with Premier Bank & Trust and expanding our presence in Canton, Akron and St. Clairsville,” said Gary Small, president and CEO of United in a statement. “Premier’s strengths fit perfectly with Home Savings’ focus on commercial banking and they bring wealth management and trust capabilities we can leverage across the entire Home Savings footprint.”

The transaction is expected to close in the first quarter of 2017, subject to approval by the shareholders of Ohio Legacy.