Community banking

In Brief: 2 Pennsylvania 'Citizens' in $29M Deal

Published December 26, 2006, 2:00 a.m. EST

|

Updated December 22, 2006, 4:57 p.m. EST

1 Min Read

Citizens and Northern Corp. in Wellsboro, Pa., has made a deal to buy another community bank with the Citizens moniker.

Processing Content

The $1.1 billion-asset Citizens and Northern said Thursday in a Securities and Exchange Commission filing that it plans to buy the $142 million-asset Citizens Bancorp Inc. in Coudersport, Pa., for $29 million in cash and stock.

The selling company's bank, Citizens Trust Co., would be merged into the buyer's Citizens and Northern Bank. Charles H. Updegraff Jr., the chairman, president, and chief executive officer of Citizens Bancorp, is to become the chief operating officer of Citizens and Northern Bank and a director of both the bank and its parent.

For reprint and licensing requests for this article, click here.

Community banking

MORE FROM AMERICAN BANKER

Artificial intelligence

OpenAI launches Plaid integration for ChatGPT Pro users

Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.

By Melinda Huspen
Tech Reporter

47m ago
Fraud

Always-on fraud checks cut Suncoast's losses by a third

Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.

By Carter Pape
Technology Reporter

1h ago
Wells Fargo

Wells Fargo settles lawsuit alleging hiring, lending discrimination

The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.

By Allissa Kline
Reporter

1h ago
New York

First Trump, Now Mamdani; politicians stepping into payments

Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.

By John Adams
Executive Editor, Payments

2h ago
Agentic Commerce

Why JPMorgan Payments has been 'pretty quiet' on agentic commerce

Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.

By Joey Pizzolato
Reporter

2h ago
OCC

OCC finalizes rule preempting state escrow interest

The Office of the Comptroller of the Currency issued a final rule saying that federal law trumps state mandates on interest in escrow accounts for national banks, wading into an ongoing court battle.

By Ebrima Santos Sanneh
Reporter

5h ago

Load More