Advertisement

Tower Bancorp. acqusition is completed

December 17, 2010

Tower Bancorp, Inc. has announced that it completed its previously announced acquisition of First Chester County Corp.
The move created a community banking organization with approximately $2.7 billion in total assets, $2.3 billion in deposits, and a branch network of 49 offices in central and southeastern Pennsylvania and Maryland.
Under the terms of the merger agreement, each share of First Chester common stock will be exchanged for 0.356 shares of Tower common stock.
The all-stock transaction is valued at approximately $49.5 million based on Tower’s closing share price of $22.03 on Dec. 9.

Advertisement
The Herald-Mail Articles
|
|
|