BETHLEHEM, Pa. - Keystone Savings Bank on Thursday announced plans to acquire $611 million-asset First Colonial Group Inc., the parent of nearby Nazareth National Bank and Trust Co., for about $82 million in stock.
Before closing the deal, $1 billion-asset Keystone has to convert from a mutual savings bank to a stock company, which will be called KNBT Bancorp. The conversion should push completion of the deal back to the fourth quarter.
The newly merged bank, to be called Keystone Nazareth Bank and Trust Co., would have the largest market share in Northampton County and the second-largest in Lehigh County.
