On April 20, 2022, PennCrest BANK®, Altoona, Pennsylvania, entered into an agreement pursuant to which it will acquire Mid Penn Bank’s financial center located in Williamsburg, Pennsylvania. PennCrest is expected to acquire approximately $25.4 million of deposits and other liabilities and approximately $2.7 million of loans.
PennCrest is a Pennsylvania-chartered mutual savings bank based in Altoona, Pennsylvania, with total assets of more than $200 million and seven locations in Blair and Cambria counties.
Luse Gorman is legal counsel to PennCrest in the transaction. The Luse Gorman team consists of Kent Krudys, Victor Cangelosi, Thomas Hutton and Zachary Davis.
Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.