HARRISBURG, Pa. - Keystone Financial, Inc. said it completed the previously announced acquisition of Main Line Bancshares Inc., Wayne, Pa.
Each share of Main Line is being exchanged for 0.92 share of Keystone. Keystone's July 31 market price of $28.25 a share would put the deal's value at $30.3 million.
Main Line is Keystone's fourth banking subsidiary, joining Pennsylvania National Bank, Pottsville; Northern Central Bank, Williamsport; and Mid-State Bank, Altoona. The banks, managed autonomously as a super community network, have 95 offices. Main Line's $208 million in assets brings Keystone to about $3 billion.