Miamitown, Ohio-based Miami Savings Bank is acquiring New Foundation Savings Bank Corp., Cincinnati..The deal is expected to be finalized in the second quarter. Miami Savings will grow to a more than $150 million bank by acquiring the $18 million, single-branch New Foundation Savings Bank. “The combining of our two institutions will provide more benefits, financial products and opportunities for New Foundation’s customers,” said Miami Savings Bank President and CEO Derrick Taylor. New Foundation President and CEO Rob Hoffman said it was hard for his bank to succeed in “such a competitive metropolitan area … this merger will only enhance the products, services and opportunities available to our customers as well as our employees.” Columbus-based law firm Vorys, Sater, Seymour and Pease LLP is advising Miami Savings Bank, while Cincinnati law firm Dinsmore & Shohl LLP is advising New Foundation Savings Bank Corp.
