GRATZ, Pa.--(BUSINESS WIRE)--GNB Financial Services, Inc., the parent company of The Gratz Bank, and Riverview Financial Corporation, the parent company of Riverview Bank, jointly announced today the execution of a definitive agreement whereby The Gratz Bank will acquire the Trevorton Branch and its deposits and customers of Riverview Bank located at 450 West Shamokin Street, Trevorton, PA. The transaction is subject to regulatory approvals and other customary closing conditions. Currently, the transaction is expected to close late in the fourth quarter of 2019. Riverview Bank’s Trevorton Branch customers will be receiving additional information related to the sale in the near future. Terms of the transaction were not announced. Upon completion of the transaction, The Gratz Bank will operate six branch locations and a loan production office.
Bybel Rutledge LLP is serving as legal counsel to GNB Financial Services, Inc. and The Gratz Bank. Barley Snyder is serving as legal counsel and Janney Montgomery Scott LLC is serving as financial advisor to Riverview Financial Corporation and Riverview Bank.
About GNB Financial Services, Inc.
GNB Financial Services, Inc., is a bank holding company with consolidated assets of approximately $350 million that provides financial services through The Gratz Bank. The Gratz Bank is a full-service bank that provides consumers and businesses with loans, deposit accounts, and other financial services. Offices are located in Central Pennsylvania in Gratz, Valley View, Herndon, Yorkville, and Minersville, covering three counties. The Gratz Bank also operates a loan production office in State College, Centre County.
About Riverview Financial Corporation
Riverview Financial Corporation is the parent company of Riverview Bank. An independent community bank, Riverview Bank serves the Pennsylvania market areas of Berks, Blair, Centre, Clearfield, Dauphin, Huntingdon, Lebanon, Lycoming, Northumberland, Perry, Schuylkill and Somerset Counties through 28 community banking offices and four limited purpose offices. Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities. The Wealth and Trust Management divisions of Riverview Bank, with assets under management exceeding $350 million, provide trust and investment advisory services to the general public. Riverview’s business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies. The Company’s common stock trades on the NASDAQ Global Market under the symbol “RIVE”. The Investor Relations site can be accessed at https://www.riverviewbankpa.com/.
