First Bank of Completes Purchase of American Trust Federal Savings Bank
February 21, 2012
First Bank of Berne announced that it has completed its previously announced purchase and assumption agreement with American Trust Federal Savings Bank effective February 17, 2012.
Kent Liechty, President of First Bank of Berne, reported that the purchase will combine the operations and office network of the two banks to provide customers with full service banking locations in five counties in Indiana and Ohio. Liechty stated that, "First Bank of Berne has been serving customers in Indiana since 1891. We are proud to be employee-owned and maintaining a tradition of financial strength, community support and quality banking services. The strengths of our combined financial institution will create new and exciting opportunities for our customers and employees." According to Liechty, "Serving customers and local community needs will continue to be the bank's primary focus. We are excited about our growing network of offices staffed by employees committed to outstanding customer service."
Following the purchase, First Bank of Berne will have total assets in excess of $525 million. The expanded organization will have more flexibility to provide financial services and technologies to meet changing customer needs. First Bank of Berne is an equal housing lender and a member of the FDIC.