Gettysburg-based ACNB Corporation, an independent $2.42 billion financial holding company and the parent company of ACNB Bank and ACNB Insurance Services, recently announced it has received the required regulatory approvals or waivers for its purchase of York-based Traditions Bancorp and its wholly-owned subsidiary, Traditions Bank.
The Federal Deposit Insurance Corp. and the Pennsylvania Department of Banking and Securities granted regulatory approvals, and the Federal Reserve Bank of Philadelphia granted a waiver to its merger application requirements.
The deal is subject to shareholder approval and customary closing conditions. The shareholders of Traditions Bancorp will vote on Dec. 18. ACNB shareholders also will vote on Dec. 18 to issue shares of ACNB common stock in connection with the merger.
“This transaction will provide the resources to expand our presence in York County and enhance our penetration in the vibrant and demographically compelling Lancaster County market,” James Helt, ACNB president and CEO, said in July when the merger was announced.
The deal is expected to close Feb. 1.
ACNB Bank operates 27 community banking offices and two loan offices in Pennsylvania and Maryland.
Traditions Bank operates eight retail branches and a loan production office.
ACNB Corp. also is the parent company of ACNB Insurance Services.