Springfield bank gets new owner

Richwood Bank, with locations in Marysville and Plain City, has purchased Home City Bank with two locations in Springfield. BILL LACKEY/STAFF

Richwood Bank, with locations in Marysville and Plain City, has purchased Home City Bank with two locations in Springfield. BILL LACKEY/STAFF
By Matt Sanctis
July 30, 2018
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A privately-owned bank based in Central Ohio recently announced plans to buy Home City Federal Savings Bank in Springfield as part of a roughly $32 million deal.

Richwood Bancshares, Inc. the holding company for the Richwood Banking Company, said it has signed a merger agreement in which it will acquire all of Home City’s assets in an all-cash transaction. Home City, incorporated in 1996, has two locations in Springfield and 27 employees. Those workers will all remain with the company, said Heather Wirtz, chief experience officer for the Richwood Banking Company.

Home City released a statement Monday.

“With a larger lending limit and additional products and services, we will be in an even better position to compete, and we know that our employees will be ready for the challenge,” said Bill Stapleton, president and CEO of Home City in a news release. “We believe that this is a favorable outcome for our shareholders, community and staff.”

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About the Author

Matt Sanctis