Talmer Gets Go-Ahead For $60M First Place Bank Buy

Law360, Wilmington (December 14, 2012, 3:16 PM EST) -- A Delaware bankruptcy judge on Friday gave his blessing to Talmer Bancorp Inc.'s $60 million acquisition of First Place Bank, averting a potential seizure of the Ohio-based bank by regulators.

U.S. Bankruptcy Judge Brendan L. Shannon signed off on the sale after the bank failed to attract any bids in addition to the stalking horse offer from Talmer — which owns another Midwestern community bank, Talmer Bank & Trust — and a planned auction was canceled.

Under the deal, Troy, Mich.-based Talmer will pay $45 million...
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