On Thursday, August 29, it was announced FCN Bank and Dearborn Savings Bank (DSB) would merge effectively creating the largest community bank headquartered in southeastern Indiana.

“Today, as community banks face ever-increasing challenges to remain independent, it is exciting to see our institutions combine to face these challenges together,” Thomas Horninger, president and chief executive officer of FCN Bank, said in a statement.

According to Horninger, FCN was approached by DSB in early January. He added there are many reasons community banks are finding it harder to compete, including the government increasing the cost of regulations and the cost of technology because banking is becoming increasingly technology driven.

“The smaller the community bank, the larger those challenges get,” said Horninger.

Horninger said he believed DSB was looking to the future and taking care of their customers with this merger as the two banks have very similar values and history. FCN Banc Corp. and DSA Financial Corporation signed a definitive agreement where Dearborn Savings Bank will merge with and into FCN Bank.

“Together, with our employees, we are excited to lead this well-established institution into a new chapter,” David P. Lorey, chairman of DSB, said in a statement. “Dearborn Savings Bank has a proud history that stretches back 129 years. We have built our reputation on trust, security, confidence and making a positive difference in our community. More importantly, FCN Bank shares our values, and this combination will only enhance the high-level customer service that our customers have come to expect.”

The transaction is expected to close during the first quarter of 2020, subject to customary regulatory approval and com-pletion of closing conditions. Upon completion of the merger, two directors from Dearborn Savings Bank will be appointed to FCN's board.

“There is such a commonality between FCN and Dearborn Savings Bank in our cultures, and our commitments to serve our customers and communities,” said Horninger. “Together, we can continue to offer great products and service options, along with experienced bankers to compete with bigger banks, while still maintaining the community values that our customers have grown accustomed to.”

Post combination, FCN will continue to serve the communities that both banks have served for more than 100 years. FCN was founded in 1901 and today was $458 million in total assets and serves the Brookville, Connersville, Sunman, Batesville and Harrison, Ohio communities. Dearborn Savings Bank was founded in 1890 and has $131 million in total assets. From its base in Lawrenceburg, it serves the Dearborn County community as well as northern Kentucky and southwestern Ohio.

Horninger said he sees a lot of opportunity in Dearborn County. As far as changes, Horninger does not anticipate any, and the corporate office will still operate in Brookville.

He added that community banks support the community, and they care very much about what happens in Brookville, Sunman, Batesville, Connersville, Harrison and now in the Lawrenceburg, Greendale and Aurora corridor.

“We look forward to working together to continue this legacy as the premiere community bank in the region,” said Horninger.