Three Rivers Federal Credit Union signed a definitive purchase and assumption agreement to acquire West End Bank, S.B. from West End Indiana Bancshares, Inc. (OTCPK:WEIN) for $43.3 million on July 31, 2019. Under the terms of agreement, Three Rivers Federal Credit Union shall assume the liabilities (other than the excluded liabilities) and pay in cash to West End Indiana Bancshares, Inc. at closing an amount equal to $43.25 million subject to any adjustments. As of May 11, 2020, West End Bank renegotiated the agreement with Three Rivers Federal Credit Union. The revised agreement includes (i) the Sale, (ii) the merger of West End Bank into West End Indiana Bancshares, (iii) the dissolution of West End Indiana Bancshares and (iv) distribution of the West End Indiana Bancshares remaining assets to the West End Indiana Bancshares stockholders. Under the revised agreement, 3Rivers will pay in cash to the Bank at closing an amount equal $41,253,600., subject to certain potential adjustments relating primarily to the Bank’s adjusted closing equity.. West End will be obligated to pay 3Rivers a termination fee of $2.0 million. The transaction subject to customary closing conditions, the approval of West End Indiana Bancshares’s stockholders and regulatory approvals. The transaction has been unanimously approved by the board of directors of both institutions. As of May 11, 2020, the parties have received certain regulatory non-objections and approvals from the Federal Reserve Board of Governors and the Federal Deposit Insurance Corporation and expect but have not yet received the required approvals from the Indiana Department of Financial Institutions and the National Credit Union Administration. West End stockholders approved the Transaction at a special meeting held on April 15, 2020. The deal is expected to close in the first quarter of 2020. As of May 11, 2020, the parties anticipate closing the Sale on or about May 31, 2020. Kip A. Weissman, Marc P. Levy and Michael J. Brown and Max Seltzer of Luse Gorman, P.C acted as legal advisor and Keefe, Bruyette, & Woods, Inc. acted as financial advisor to West End Bank and West End Indiana Bancshares. Michael Bell of Howard & Howard Attorneys PLLC acted as legal advisor to Three Rivers Federal Credit Union in the transaction.