MERIDIAN BANK RINGS NASDAQ SOCK MARKET CLOSING BELL Meridian Bank Chairman and CEO Chris Annas joined with members of Meridian senior management to ring the Nasdaq Stock Market closing bell on Friday, December 1st at 4:00 p.m. ET. The event marked the company’s recent listing on the Nasdaq Global Select Market under the ticker symbol MRBK. “We are thrilled to be a part of the prestigious Nasdaq community of innovative and visionary companies,” said Annas. “With the ringing of this closing bell, we celebrate a tremendous milestone in the evolution of our company, and the start of a new chapter of growth and expansion in our region.” In November Meridian closed an underwritten public offering of 2,705,882 shares of its common stock at a price to the public of $17.00 per share. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other operating expenses, were approximately $46.0 million. BRYN MAWR TRUST CONTINUES WITH A NEW PLEDGE OF $15 MILLION MAKING HOME OWNERSHIP MORE AFFORDABLE FOR LOW AND MODERATE-INCOME BORROWERS Bryn Mawr Bank Corporation (NASDAQ: BMTC) (the “Corporation”), parent of The Bryn Mawr Trust Company (“BMT”), announced today a new $15 million commitment to fund loans to low and moderateincome households in 2018. This commitment is the second made by BMT. In mid-2016, BMT committed $10 million to make home-ownership more affordable for low and moderate-income borrowers through BMT’s Neighborhood Opportunity Program. BMT’s Neighborhood Opportunity Program provides loans to individuals purchasing and improving homes in low and moderate income areas. In 17 months, BMT funded over $14.5 million in home loans, and looks to continue the Program’s strong performance in 2018 with the additional $15 Million commitment. The Neighborhood Opportunity Program provides primary home loans to individuals with low and moderate-income, or to individuals looking to purchase or repair a primary residence located in a low and moderate-income census tract. We have been encouraged by the positive results over the past 17 months, originating over $14.5 million in Neighborhood Opportunity loans. We are dedicated to providing education and information to help low and moderate-income prospective home buyers and individuals seeking home improvement funding,” said Frank Leto, President and CEO of BMT. Continuing, “this new $15 Million pledge reaffirms our commitment to provide mortgages and home loans that further meet the needs of borrowers in the diverse communities we serve and is designed to ensure neighborhood growth and revitalization.” For home purchases or refinancing, BMT’s Neighborhood Opportunity Program provides a flexible alternative compared to conventional loan programs. With as little as a 3 percent down payment, and the potential to eliminate the high costs of private mortgage insurance (“PMI”), the Neighborhood Opportunity Program makes home ownership more affordable. In addition to loans through its Neighborhood Opportunity Program, BMT offers consumers a wide variety of other mortgage products at competitive rates, including conventional, jumbo, adjustable-rate, and FHA loans. BMT’s convenient online mortgage portal allows customers to apply for a mortgage loan when and where it is convenient for them. Customers can also visit a local branch for information, or connect with a local Mortgage Loan Officer for a customized consultation by calling 610-581-4876. MID PENN BANCORP, INC. RECEIVES REGULATORY APPROVALS FOR THE SCOTTDALE BANK & TRUST COMPANY MERGER Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB) and The Scottdale Bank & Trust Company (“Scottdale”) (OTC: SDLJ), announced in December that they have received all required approvals from the Federal Deposit Insurance Corporation, the Board of Governors of Federal Reserve System and the Pennsylvania Department of Banking and Securities to complete their proposed merger. Shareholders from both Mid Penn and Scottdale approved the transaction on November 17, 2017. Mid Penn intends to close the transaction on January 8, 2018. Accordingly, the deadline for receipt of the cash/ stock elections by Scottdale shareholders was 5:00 p.m. ET on Friday, December 29, 2017 Following completion of the merger, Scottdale will be merged into Mid Penn Bank and will operate as “Scottdale Bank & Trust, a division of Mid Penn Bank.” “With this merger, our goal is to offer Scottdale customers an even better banking experience, provide shareholders with a meaningful return on their investment and expand our community commitment,” said Mid Penn President and CEO Rory G. Ritrievi. “Scottdale is a very good fit for our brand of community banking, and it is our priority to ensure this merger is seamless to all involved.” The merger will expand Mid Penn’s footprint into western Pennsylvania including Westmoreland and Fayette counties. Mid Penn, on a pro forma basis following completion of the merger, would have had over $1.3 billion in assets as of June 30, 2017. Sandler O’Neill + Partners, L.P. acted as financial advisor and Stevens & Lee acted as legal advisor to Mid Penn in the transaction. Ambassador Financial Group, Inc. acted as financial advisor and Tucker Arensberg, P.C. acted as legal advisor to Scottdale. HARLEYSVILLE BANK NAMES CEO Ronald Geib will retire as CEO of the Harleysville, Pa.-based Harleysville Bank and its holding company, Harleysville Financial Corp., on March 30, 2018, as announced in a Dec. 20 news release. His replacement will be Brendan McGill, who is currently vice chairman, president and COO of both companies. He is also on the board of directors of the Federal Home Loan Bank of Pittsburgh. Geib will stay on as chairman of the company and the bank. PENNCREST BANK PARTICIPATES IN COMMUNITY EVENT Pictured (Left to Right) Mary Beth Page, Krista Goodman PennCrest BANK Nanty Glo Branch Manager Mary Beth Page and PA CareerLink Cambria County Youth Career Planner Krista Goodman participated in a Speed Careers Roundtable Event at Blacklick Valley High School on November 3. The Speed Careers Event was made possible through the support of the Southern Alleghenies Workforce Development Board, the region’s leader and active partner in workforce development efforts, and took place during the week of the Board’s Health Careers Week. ATLANTIC COMMUNITY BANCSHARES, INC. AND BBN FINANCIAL CORPORATION COMPLETES MERGER Atlantic Community Bancshares, Inc., the parent of Atlantic Community Bankers Bank headquartered in Camp Hill, Pennsylvania and BBN Financial Corporation, the parent of Bankers’ Bank Northeast headquartered in Glastonbury, Connecticut announce the completion of their merger. Camp Hill, Pennsylvania – Atlantic Community Bancshares, Inc. and BBN Financial Corp. announced that they have completed the merger of the two holding companies and the respective banks, Atlantic Community Bankers Bank (ACBB) and Bankers’ Bank Northeast. The combined institution will have $800 million in assets and will operate in eleven states throughout the Mid-Atlantic and the Northeast. As of January 2, 2018, the Connecticut office of ACBB will continue to offer the existing correspondent services until the two systems are merged in April 2018. “This merger creates additional value for our community financial institutions with a stronger bankers’ bank dedicated to helping our institutions grow, compete and save money,” said Jon Evans, President and CEO of Atlantic Community Bancshares, Inc. and ACBB. “We will operate three offices in Camp Hill, Pennsylvania, Newark, New Jersey and Glastonbury, Connecticut in order to better serve our clients in the mid-Atlantic and New England regions.” “We are pleased with this strategic partnership that will expand resources to clients along the eastern seaboard. We will continue to create superior, lasting banking relationships with the primary purpose of making clients more successful. This merger will expand our correspondent services and lending capabilities, as well as our ability to offer new innovative technology solutions that are in beta testing, thereby allowing us to be more competitive throughout our marketplace.” Said Craig Howie, Senior Executive Vice President of ACBB. The merger was approved by the Board of Directors of the holding companies for ACBB and BBN. The merger received state and federal regulatory approval in December. For publication consideration, please email press releases to Eric Kovac, Communications Director, at firstname.lastname@example.org. To ensure publication in Transactions, all press releases must be received by the 5th of the preceding month.
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