Interra Credit Union and The Hicksville Bank announced Wednesday that they have entered into a definitive agreement under which Interra will purchase substantially all of the assets and liabilities of The Hicksville Bank in an all-cash transaction.
The agreement has been approved by the boards of directors of both institutions and by the bank’s holding company, Empire Bancshares, Inc. It still requires regulatory approval and the approval of Empire Bancshares stockholders. No closing date has been announced.
The Hicksville Bank operates four branches: its main office at 144 E. High Street in Hicksville, Ohio (Defiance County); a branch at 304 N. Michigan Avenue in Edgerton, Ohio (Williams County); a branch at 1130 W. 15th Street in Auburn, Indiana; and a branch at 13613 Fairview Drive in Grabill, Indiana.
According to the bank’s published history, the Edgerton branch opened in 1988 and was the bank’s first branch outside the Hicksville main office. The Auburn branch opened in 1999. The Grabill branch opened in January 2024.
The bank was chartered in October 1901 as The Hicksville National Bank by J.M. Ainsworth, I.M. Boone and J.L. Bevington.
The bank says it was the only one of three Hicksville banks of its era to remain in operation through the Great Depression.
In 1946 it was reorganized with broader local ownership, transitioned from a national charter to a state charter and took its current name, The Hicksville Bank.
In a press release sent to The Village Reporter, the chief executives of both institutions addressed the proposed acquisition.
“This is about honoring the legacy of two organizations that share a deep commitment to their communities and building a new future together,” said Amy Sink, chief executive officer of Interra Credit Union.
“We’re excited to build on that foundation and continue delivering the service, trust and support our members and customers expect.”
“This partnership keeps our passion exactly where it belongs — on our customers and our communities,” said Greg Smitley, chief executive officer of The Hicksville Bank.
“Interra shares our belief that banking should be personal, accessible and deeply connected to the places we serve.”
Interra Credit Union, headquartered in Goshen, Indiana, was chartered in 1932. It reports approximately $2 billion in assets, more than 325 full- and part-time employees and nearly 90,000 members.
Its field of membership covers 24 counties in northern Indiana, and it currently operates 16 offices in Elkhart, LaGrange, Kosciusko, Marshall and Noble counties.
Interra described the proposed acquisition as a strategic expansion into Northeast Indiana and Northwest Ohio.
The Hicksville Bank reports approximately $225 million in assets across its four branches.
Interra Credit Union is being represented in the transaction by Honigman LLP. The Hicksville Bank is being represented by Shumaker, Loop & Kendrick, LLP, with financial advisory services provided by Hovde Group.