Susquehanna Bancshares has announced the completion of its acquisition of Community Banks for approximately $860 million.
The transaction expands Susquehanna Bank’s territory in the Harrisburg market and deepens the company’s solid foundation in central Pennsylvania, particularly in Lancaster and York counties. Additionally, acquired branches in Schuylkill and Luzerne counties and in the Baltimore area complement Susquehanna’s existing branch network in northern Pennsylvania and eastern Maryland.
In connection with the consummation of the merger, Eddie Dunklebarger, who was chairman, president and CEO of Community, has been appointed executive Vice president of Susquehanna and has joined its board of directors as vice chairman.
William Reuter, chairman, president and CEO of Susquehanna Bancshares, said: This transaction has many benefits for customers of both companies. It creates a larger branch and ATM network that can service customers in the major areas where they live, work and play. Additionally, both new and existing customers will benefit from an enhanced selection of banking products and services as well as a broader array of financial services such as wealth management, commercial leasing and insurance.