First Place Financial Corp., the holding company for First Place Bank, filed for Chapter 11 bankruptcy in Delaware listing assets of $175.3 million.
The company, which listed debts of $64.5 million in documents filed yesterday with the U.S. Bankruptcy Court in Wilmington, indicated it has an agreement to sell assets to Talmer Bancorp Inc.
Asset sales in bankruptcy are typically subject to higher and better offers at a court-supervised auction.
Dimensional Fund Advisers LP was listed in court papers as the only entity holding more than 5 percent of the Warren, Ohio- based company’s voting shares and the largest unsecured creditors were company trusts holding subordinated debt.
The case is In re First Place Financial Corp., 12-12961, U.S. Bankruptcy Court, District of Delaware (Wilmington).
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