Ottawa Bancorp jumps on buyout deal with Pontiac Bancorp

Ottawa Savings Bancorp

20/08/2026 19:25

** U.S. lender Ottawa Bancorp's OTTW.PK shares jump 18% to $18.76
** Illinois community bank Pontiac Bancorp PONT.PK will buy OTTW in a $45.5 million cash deal, creating a combined lender with roughly $1.5 billion in assets
** Deal values OTTW at roughly $19.78 per share, which represents a 24.4% upside to last close
** Transaction is expected to close in first quarter of 2027
** Olsen Palmer served as financial adviser to Pontiac Bancorp and Performance Trust Capital Partners advised Ottawa Bancorp

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))