Harleysville National Bank Sold to First Niagra Bank
July 27th, 2009
Harleysville National Bank is being sold to Buffalo Based First Niagra Bank for $237 million. The two banks have put in place a purchase agreement that is to close early next year.
Harleysville National Bank had failed to meet the capital demands of federal regulators by their June 30th deadline.
Each Harleysville stockholder will receive 0.474 shares of First Niagara stock for each share. Harleysville shares jumped up by 36% while First Niagara shares jumped 3% since opening bell today.
First Niagara has stated that it intends to keep all current Harleysville branches in operation after the takeover. This deal will leave First Niagara with 140 branches in Pennsylvania.
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If this new Niagra bank makes changes to senior citizen accounts, we are out of it!
Being a custoner since 1982(Downingtown Savings Bank), I agree with June Barto’s comment any changes to seniors accounts, I will not stay with First Niagra Bank.
NONONO the company is based were i live. They are one of the best banks. They will work with you. If not you could switch to M&T
I am from the PA area, former National City customer, purchased by First Niagara. Nothing is ever perfect, but they did right by keeping the employees. I see the same faces I know and love and they have helped me with the changes. Before you start over with a new bank you don’t know from Adam, have a conversation with your local banker and you will feel much better. Good Luck!