- Associated Press - Wednesday, May 13, 2015

INDIANA, Pa. (AP) - A western Pennsylvania -based bank has purchased an Ohio-based bank for nearly $15 million.

The Indiana Gazette reports (https://bit.ly/1L1Y689) First Commonwealth Bank has purchased First Community Bank. The two announced the merger agreement Monday.

Officials from First Commonwealth say entering Columbus, Ohio was a strategic priority for them. They say the acquisition gives them an established presence in Columbus and lets them serve and expand upon First Community customers.

First Community will now operate under the First Commonwealth name.

The transaction still needs to receive regulatory approval and has other customary closing conditions.

First Commonwealth operates 107 branches in 15 western and central Pennsylvania counties, and a corporate banking business center in northeast Ohio.

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