Quakertown-based QNB Corp., the holding company for QNB Bank, successfully completed its purchase of Limerick-based Victory Bancorp, the holding company for The Victory Bank, on Wednesday.
“This transaction represents the successful completion of a strategic combination that strengthens QNB Bank’s franchise and expands our ability to serve customers, enriching the local banking experience, throughout the region,” David Freeman, QNB Bank president and CEO, said. “Operating Victory Bank as a division during the interim period ensures a seamless transition as we prepare for full systems integration in June.”
Victory Bank will become a division of QNB Bank during an interim operating period from April to mid-June. During the interim period, QNB Bank will convert Victory Bank’s systems and operations. The system conversion will occur June 19 to June 21. Victory Bank branches and offices will reopen as fully integrated QNB Bank locations on June 22.
Victory Bank customers will have access to 14 full‑service QNB Bank offices in Montgomery, Bucks, and Lehigh counties. In May, customers will receive detailed information on the June systems conversion and key dates and personal service and support.
“We are pleased to have officially joined with QNB Bank,” said Joseph W. Major, former Victory Chairman, President, and Chief Executive Officer. “Our customers will benefit from expanded resources while continuing to experience the customer-centric relationship‑based banking that has always defined Victory Bank.”
Major and President Kevin Johnson both join the QNB Bank board of directors.