HARRISBURG, Pa. - Harris Savings Bank has signed a definitive agreement with Columbia First Bank to purchase two retail offices from Columbia First in Hagerstown, Md.
As of Dec. 31, the two branches had deposits of $119.5 million.
The sale is subject to obtaining all regulatory approvals and the final closing is not expected until late September.
This is Harris' first movement into Maryland.
"The buying of these branches mesh perfectly with our overall growth strategy of seeking opportunities in southern Pennsylvania and northern Maryland," said William J. McLaughlin, president of Harris.
Columbia First has assets of $2.9 billion and is the largest savings institution headquartered in Virginia. The bank operates 33 full-service offices in Virginia, Maryland, and the District of Columbia.
Harris Savings Bank is a billion-dollar savings bank headquartered in Harrisburg, with 23 offices in five counties in south central Pennsylvania.