Time Sparebank agreed to acquire Klepp Sparebank (OB:JAEREN) in a reverse merger transaction on September 22, 2014. Time Sparebank will merge with Klepp Sparebank to form Jaeren Sparebank. The merger is expected to be completed in early first quarter of 2015. Ernst & Young acted as accountant to Klepp Sparebank and Time Sparebank. Swedbank acted as financial advisor and Advokatfirmaet Selmer DA acted as the legal advisor on the transaction.

Time Sparebank completed the acquisition of Klepp Sparebank (OB:JAEREN) in a reverse merger transaction on January 1, 2015.