10.10.2008 4:35 pm
First Clover Leaf completes acquisition of Partners Bank
St. Louis Post-Dispatch
First Clover Leaf Financial Corp. of Edwardsville said it will have assets of more than $593 million after completing its purchase of Partners Financial Holdings Inc., owner of Partners Bank in Glen Carbon.
In the transaction, Partners shareholders received a mix of cash and stock worth $56 per Partners share, or more than $20 million. First Clover Leaf also paid $1.5 million for Partners’ outstanding options and warrants.
The bank will operate under the First Clover Leaf name.
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