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Regulators Deliver Green Light to Horizon Bank-Lafayette Community Merger

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Horizon Bancorp’s acquisition of Lafayette Community Bancorp is entering the final stages of clearance following regulatory approval of their merger at both the state and federal level this week.

Both Horizon and Lafayette Community Bancorp announced this week that the Indiana Department of Financial Institutions and the Federal Deposit Insurance Corporation have given the green light to the proposed merger of Lafayette Community Bancorp and its wholly-owned subsidiary, Lafayette Community Bank, with and into Horizon’s wholly-owned bank subsidiary, Horizon Bank.  The Federal Reserve Board also granted Horizon’s requested waiver from its application filing requirements. As a result, the parties may close the merger any time after the U.S. Department of Justice waiting period expires on August 29, 2017.

Horizon Chairman and CEO Craig Dwight says, “We are pleased that our regulators have responded with the required approvals necessary to complete the merger.” Dwight adds, “We are enthusiastic about this strategic partnership and are excited to provide an expanded branch network and robust product offerings to the Lafayette community.”

Bradley Marley, who serves as President and Chief Executive Officer of Lafayette Community Bank says, “The progress being made by both Lafayette and Horizon’s integration teams has been going very well, and we are pleased that all regulatory approvals have been obtained in such a timely fashion.  Obtaining regulatory approvals is another step closer to our partnership, and we look forward to becoming part of Horizon’s family.”

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As previously disclosed, the merger is expected to be completed in the third quarter, subject to approval by the shareholders of Lafayette Community Bancorp, as well as the satisfaction of other customary closing conditions. Lafayette Community Bank will be merged into Horizon Bank, and the combined operations will be continued under the Horizon Bank name.

Lafayette will hold its meeting of shareholders to approve the merger on August 28, 2017, at 10:00am (local time) at the main office of Lafayette Community Bank, located at 301 South Street in Lafayette, Indiana.

You can read more about the merger in this earlier story from Moody on the Market.com:

https://www.moodyonthemarket.com/horizon-bank-grows-with-acquisition-of-lafayette-bancorp/

Horizon Bancorp is an independent, commercial bank holding company serving northern and central Indiana, southwest and central Michigan, and central Ohio through its commercial banking subsidiary Horizon Bank. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp can be found online at www.horizonbank.com.  Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.

Lafayette Community Bancorp operates as the bank holding company for Lafayette Community Bank that provides commercial banking services in Tippecanoe County, Indiana. Lafayette Community Bank was founded in 2000 and operates offices throughout Lafayette and West Lafayette, Indiana.  More about Lafayette Community Bank can be found online at www.lafayettecommunitybank.com.