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**Ottawa Savings Bank to Acquire Twin Oaks Savings Bank**
Twin Oaks to become part of the Ottawa Savings family.
As we announced on June 30th, Ottawa Savings Bank, the wholly-owned subsidiary of Ottawa Savings Bancorp, and Twin Oaks Savings Bank have agreed to a merger of Twin Oaks with and into Ottawa Savings. Twin Oaks’ branch offices will be operated as a division of Ottawa Savings, subject to applicable regulatory requirements.
The merger, unanimously approved by each institution’s Board of Directors, is currently expected to close in the fourth quarter of 2014. The transaction is subject to certain conditions, including approval by Twin Oaks’ members and the Ottawa Savings Bancorp’s stockholders, and by banking regulators.
Here are some Frequently Asked Questions (with Answers) about the merger.