First Place Financial, Camco Financial merger terminated

By Lisa Kerner

Charlotte, N.C., Dec. 1 - First Place Financial Corp. and Camco Financial Corp. mutually terminated their May 7, 2008 merger agreement due to deteriorating market conditions.

Under their agreement, neither company will incur any termination fees.

First Place and Camco also agreed to mutually release one another from any liability claims, a joint news release said.

The merger agreement had called for Camco stockholders to receive either $13.58 in cash or 0.97 shares of First Place common stock for each share of Camco common stock.

First Place Financial is the Warren, Ohio-based holding company for First Place Bank, Franklin Bank, First Place Insurance Agency, Coldwell Banker First Place Real Estate, APB Financial Group and TitleWorks Agency.

Camco is a financial holding company based in Cambridge, Ohio. Its subsidiaries are Advantage Bank and Camco Title Agency, Inc.

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