Omega Financial Corp. in State College, Pa., is selling three of its branches as part of a refinement of its retail network.
The $1.9 billion-asset company said this week that it is selling its Mechanicsburg, Pa. branch to the $760 million-asset Orrstown Financial Services Inc. and two branches in Dauphin County to Mid Penn Bancorp in Millersburg. Omega inherited the three branches when it bought Sun Bancorp Inc. of Selinsgrove in October 2004.
Last month Omega announced that is also selling a trust subsidiary it picked up in the Sun deal, Sentry Trust, to Community Banks Inc. of Harrisburg.
All three sales are expected to close next quarter.
Late Tuesday, Omega reported that second-quarter net income fell 0.7% from a year earlier, to $5.3 million. The company said in the earnings report that it continues to monitor a $20 million commercial loan it put on nonaccrual status in the first quarter.
