Richmond Mutual buys Ohio bank for $19.8

Mutual Bancorp Inc. of Sidney, Ohio, has been sold to Richmond Mutual Bancorporation for $19.8 million in cash, the parties said today.

Richmond Mutual is the parent of First Bank Richmond in the eastern Indiana city and American Trust Federal Savings Bank in Peru. The Ohio institution has four offices north of Dayton, Ohio The deal is expected to close in the third quarter.