Muncy Bank and Trust will be merged into the parent company of First Columbia Bank & Trust, the companies announced this week.
The shareholders of the respective parent companies, Muncy Bank Financial (MBF) and CCFNB Bancorp approved the merger on Oct. 3. With the merger, CCFNB will be the surviving corporation, pursuant to the Agreement and Plan of Merger dated April 17 and amended June 21 between CCFNB and MBF. The closing of the proposed merger remains subject to certain customary closing conditions.
“We are grateful for the strong support of our shareholders in approving this strategic partnership between CCFNB and MBF, that will create a leading community banking franchise in central Pennsylvania. Together we will build on our shared community banking traditions, providing greater strength, size and stability to serve our communities and generating greater profitability and returns for our shareholders,” Lance Diehl, president and CEO of CCFNB, said.
CCFNB, based in Bloomsburg, has $960 million in assets. Muncy Bank has $663 million. The combined bank would have about $1.5 billion in assets.
“We are excited for what the future holds for our combined company. We are one step closer to creating a partnership that will benefit all of our stakeholders and the communities we serve,” Robert Glunk, chairman, president and CEO of MBF, said.