Sun Bancorp of Selinsgrove, Pa., a unit of F.N.B. Bancorp of Hermitage, said Tuesday that it has a deal to buy Guaranty Bank of Wilkes-Barre, Pa., for $14.4 million of stock and cash.
Guaranty, a privately owned company with six branches and $120 million of assets, would expand Suns presence in Northumberland County and give it entry into Luzerne County, where five of Guarantys six branches are sited.
The deal, which will be accounted for as a purchase, is expected to close in the second quarter.
Sun, with $740 million of assets, recently combined its four banks under the Sun Bank name. Guaranty would retain its name and become a division of Sun Bank.
Maureen Moran Bufalino, who along with her father, chairman Jack D. Moran, owns Guaranty, would remain its president and chief executive officer.
