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Hamilton Bancorp merging with Fairmount
//September 10, 2015
Hamilton Bancorp Inc. and its subsidiary, Hamilton Bank, are merging with Fairmount Bancorp Inc. and its subsidiary, Fairmount Bank. Hamilton received the required regulatory approval for the merger on Thursday.
Hamilton will acquire approximately $75 million in assets, $53 million in loans and $53 million in deposits, and will increase its branch network by one. Fairmount shareholders voted overwhelmingly to approve the merger with Hamilton on Sept. 8. The deal is expected to be completed at the close of business on Sept. 11, according to a press release.
Material terms of the merger and merger agreement were included in a Current Report on Form 8-K filed with the SEC on April 16.
“In the midst of our 100th year anniversary celebration, we are excited by the combination of two established community banks,” said Robert DeAlmeida, president and CEO of Hamilton in a press release. “We believe in building lasting relationships with businesses, homeowners, individuals and the many wonderful families in our community. We look forward to welcoming and serving Fairmount’s customers.”
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