Millersburg-based Mid Penn Bancorp, and Riverview Financial Corp. recently received regulatory approvals to move forwarded with their proposed merger.
“We are pleased to have received regulatory approval of our merger that supports our growth objectives, complements our franchise, and propels long-term shareholder value,” Rory G. Ritrievi, Mid Penn president and CEO, said. “Mid Penn and Riverview continue to work collectively towards a fourth-quarter closing of this transaction and are meeting timelines and milestones as expected.”
Both banks must still seek their shareholders’ approval and customary closing conditions must be met.
The deal is expected to close by end of the year. Once it is completed. Riverview Bank will merge with Mid Penn Bank. This will extend Mid Penn’s footprint into the Lehigh Valley and State College region and Western Pennsylvania.
Mid Penn Bancorp has 36 retail locations in Berks, Bucks, Chester, Cumberland, Dauphin, Fayette, Lancaster, Luzerne, Montgomery, Northumberland, Schuylkill and Westmoreland counties. It has assets totaling more than $3 billion.
Riverview Bank has 23 community banking offices and three limited purpose offices in Berks, Blair, Bucks, Centre, Clearfield, Cumberland, Dauphin, Huntingdon, Lebanon, Lehigh, Lycoming, Perry and Schuylkill counties. It serves individuals, businesses, not-for-profit organizations and government entities.
Its parent company is Riverview Financial Corp.