Allegheny Valley Bancorp Inc. in Pittsburgh has agreed to buy RSV Bancorp Inc., also of Pittsburgh, for $16.2 million.
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The $78 million-asset RSV is the parent company of Mount Troy Bank, a one-branch thrift founded in 1891. Buying it would give the $312 million-asset Allegheny seven branches in the Pittsburgh market.
The deal was announced Friday and is expected to close in the third quarter.
RSV stockholders would receive $29 for each share they own. In late trading Monday, RSV's shares were up nearly 18%, to $27.10.
