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Ottawa Savings and Twin Oaks Savings Banks to merge

Posted by wlpo on July 3, 2014

Customers of Twin Oaks Savings Bank will soon be the customers of Ottawa Savings Bank. Ottawa Savings Bancorp MHC announced Monday that Twin Oaks would be merging with Ottawa Savings.

If you have an account or loan at Twin Oaks you will become a client of Ottawa Savings.

Ottawa Savings President and Chief Executive Officer Jon Kranov says the merger should benefit their shareholders and customers. Kranov will remain the President and CEO. Twin Oaks President Craig Hepner will become the Executive Vice President and Chief Operating Officer.

The merger should be completed in the fourth quarter of this year. The Twin Oaks banks in Marseilles will become Ottawa Savings bank branches.

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