Piper Holdings closes SBB Bancshares deal

Covington, Ind.-based Piper Holdings Inc. completed its acquisition of Burnettsville, Ind.-based SBB Bancshares Inc., effective July 12.

As part of the deal, SBB Bancshares unit State Bank of Burnettsville merged with and into Piper Holdings unit Fountain Trust Co.

Fountain Trust now has $494 million in total assets, $262 million in loans and $436 million in deposits, according to a news release.

Renninger & Associates LLC and Barnes & Thornburg LLP served as SBB Bancshares' financial adviser and legal counsel, respectively. Performance Trust Capital Partners LLC acted as financial adviser to Fountain Trust and SmithAmundsen LLC served as its legal counsel.