First Place Financial Corp. Files Bankruptcy in Delaware - Businessweek

First Place Financial Corp. Files Bankruptcy in Delaware - Businessweek

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.