Seeking Alpha

LSB Financial Corp. (LSBI)

LSBI is defunct.
  • Jun. 4, 2014, 12:48 PM
    | 1 Comment
  • Jun. 4, 2014, 8:59 AM
    • Another community bank merger has Indiana's Old National Bancorp (ONB) inking a $66.7M deal to buy LSB Financial (LSBI), the holding company for Lafayette Savings Bank.
    • LSB owners will receive 2.269 shares of ONB plus $10.63 in cash for each share of LSBI they own, putting the current value of the deal at $41.67 per share vs. last night's $28.30 close. The transaction is expected to close in Q4.
    • ONB expects the deal to be immediately accretive to 2015 earnings by $7.5M, or $0.03 per share.
    • Source: Press Release
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Company Description
LSB Financial Corp is a holding company for Lafayette Savings Bank, FSB. It attracts deposits from the general public and investing those funds to originate commercial and consumer loans.
Sector: Financial
Industry: Savings & Loans
Country: United States