Ohio Bank Offer Spelled Out
Associated Press
COLUMBUS, Ohio —
Gov. Richard Celeste announced today that Chemical Bank of New York has submitted a letter of intent to purchase the closed Home State Savings Bank.
The letter includes the basic financial and legal terms that would be included in a final purchase agreement. Acquisition of Cincinnati-based Home State by Chemical Bank is subject to various conditions: passage of legislation; receipt of regulatory approvals; approval by Chemical’s board of directors, and approval of the transaction by state courts.
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