Community Banks Inc. in Harrisburg, Pa., has struck its second bank acquisition deal in a week.
The $3.3 billion-asset company announced Wednesday that it plans to buy East Prospect State Bank for $21.5 million in stock and cash. The deal is expected to close in the second quarter.
The privately held East Prospect has $57 million of assets and one branch. Buying it would raise Community Banks' branch total in York County to 20.
Roger A. Nickol, the president and chief executive officer of East Prospect, would become a consultant to Community Banks and a member of its York Region Advisory Board.
Last week Community Banks announced its first deal in Maryland. It said it would buy Bucs Federal Bank in Owings Mills, Md., for $22.6 million in cash and stock. That deal is expected to close in the first quarter. Bucs has $143 million of assets and four branches in the Baltimore area.
