3Rivers Credit Union Acquires West End Bank

3Rivers Credit Union Acquires West End Bank

West End Indiana Bancshares, Inc. (OTC PINK: WEIN), the holding company for West End Bank, S.B., announced the completion of the purchase and assumption transaction between Three Rivers Federal Credit Union (“3Rivers”), WEIN, and West End Bank in which 3Rivers has acquired the assets and assumed the liabilities of West End Bank in an all-cash transaction. West End Bank will now begin the process of merging into WEIN.

Following the merger of West End Bank into WEIN, WEIN will dissolve pursuant to Maryland corporate law and distribute its remaining assets to its stockholders. The merger of West End Bank into WEIN and the dissolution of WEIN are expected to be completed in approximately 120 days.

Each WEIN stockholder is expected to receive between $35.00 and $37.00 per share of WEIN common stock owned by such stockholder as of the distribution date. However, the final price per share to be received by stockholders may be more or less than the estimated range of $35.00 to $37.00 per share, based on the level of post-closing expenses and other factors, which are uncertain at this time. The distribution to stockholders is expected to occur in the fourth quarter of 2020. However, the merger of West End Bank into WEIN and the dissolution of WEIN may take longer than anticipated and stockholders will not receive the distribution until this process is substantially completed. The distribution date will be announced prior to the distribution.

As part of the dissolution process, payments will be made to certain former depositors of West End Bank pursuant to liquidation accounts maintained by West End Bank and WEIN. Depositors entitled to payments under the liquidation accounts will be provided notice of the amount and method of payments prior to the payments being made.

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