Pennsylvania

Merger announcements typically follow a tried-and-true formula of cutting costs to boost profit. WSFS, however, plans to reinvest $32 million in new tech initiatives after buying Beneficial.

Customers Bancorp said Flagship Community Bank has temporarily withdrawn its application with the FDIC to acquire the digital bank.

While most acquirers are content to let cost savings trickle down to the bottom line, WSFS will use the purchase of Beneficial to reinvent itself.

The Delaware company plans to reinvest savings from the $1.5 billion acquisition to upgrade technology and delivery channels.

Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis.

The industry continues to push for leniency as the clock ticks toward adoption of the drastic change to how banks account for expected loan losses.

The 2017 acquisition of Yadkin Financial was cited as a driver of growth for several fee-based businesses.

Brentwood Bank’s purchase of Union Building and Loan would give it a larger presence around the Steel City.

Matthew Prosseda, former president and CEO of First Keystone Community Bank, was hired by Kafafian Group to advise banks on strategic planning.

The Pittsburgh regional detailed plans to enter a number of new markets with its digital bank and carefully chosen branch openings.