First Place Financial Corp. to Acquire Camco Financial Corporation
Parties:
>First Place Financial Corp., a $3.4 billion financial services holding company based in Warren, Ohio, operates 45 retail locations, 2 business financial service centers and 20 loan production offices through the First Place Bank and Franklin Bank divisions of First Place Bank.(http://www.firstplacebank.com)
>Camco Financial Corporation, holding company of Advantage Bank, is a multi-state financial services holding company headquartered in Cambridge, Ohio. Advantage Bank and its affiliate, Camco Title Agency, offer relationship banking that includes commercial, small business and consumer financial services, internet banking and title insurance services from 28 offices in Ohio, Kentucky and West Virginia. (http://www.camcofinancial.com)
--Camco shareholders will be entitled to receive either $13.58 in cash or 0.97 shares of First Place common stock Subject to prorata 26.5% Cash 73.5% stock
--The stock exchange ratio of 0.97 may be adjusted in certain circumstances should the average price of First Place's stock, calculated over a period prior to closing, be greater than $16.80 or less than $11.20. Camco may terminate the merger if the average price is less than $11.20, though First Place shall have the option of increasing the exchange ratio in order to complete the transaction.
