ODON, Ind., August 31, 2021--(BUSINESS WIRE)--Crane Credit Union ("Crane") announced today that it has successfully completed the acquisition of Our Community Bank ("OCB") further expanding its presence across Indiana. The acquisition, which was first announced on August 19, 2020, was completed on August 31, 2021 following shareholder and regulatory approval.
The combined institution will retain the Crane Credit Union name and charter. Former OCB employees will become employees of Crane. Both OCB branches will continue to operate as branches of Crane.
With the acquisition complete, Crane now has 20 branch locations in central and southern Indiana. Members also have access to online banking and Crane’s mobile app along with an expansive ATM and Shared Branching network.
Kevin Sparks, President and CEO of Crane, commented, "We look forward to assisting the Our Community Bank team in Spencer and Cloverdale in building on their existing customer relationships. By teaming with OCB, we will expand our services to Owen and Putnam Counties, which fit within our existing market areas stretching from the Greater Indianapolis area to Evansville"
Krieg DeVault LLP acted as legal counsel to Crane. Renninger & Associates, LLC served as financial advisor and Barnes & Thornburg LLP acted as legal counsel to OCB.
Shares of common stock of Our Community Bank’s parent bank holding company, Home Financial Bancorp (OTCPink: HWEN), will no longer be listed for quotation on the OTC Pink Open Market following consummation of the asset purchase transaction between Our Community Bank and Crane Credit Union.
About Crane Credit Union: Crane Credit Union, headquartered in Odon, Indiana, was founded in 1955 on Crane Naval Surface Warfare Center. Crane serves the communities of Central and Southern Indiana, offering a full array of products and services. The credit union prides itself on member service, community involvement and strives to offer better rates on loans and deposits than competitors. For more information, please visit Crane Credit Union online at cranecu.org.
About Our Community Bank: OCB, headquartered in Spencer, Indiana was founded in 1911 as Owen County Savings and Loan Association by a group of local residents. Since its inception, OCB has helped community residents achieve financial stability, become homeowners, and strengthen the local economy. The institution has earned a reputation for its personal customer service and neighborly friendliness. OCB has 2 branches located in Spencer and Cloverdale serving Owen, Putnam and surrounding counties.
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Michael Hostetler, (800) 692-3274 ext. 6120