In an effort to get a head start on the feeding frenzy, Malvern Federal Savings Bank in Paoli, Pa., will hold job fairs to gobble up employees laid off by BB&T in Pennsylvania.
The $618 million-asset bank will stage two job fairs, the first on Sept. 29 in Malvern, Pa., and the second on Oct. 8 in Wayne, Pa.
Although he didn't name BB&T, Anthony Weagley, the chief executive of Malvern Bancorp and Malvern Federal, strongly suggested they would be looking for professionals cast off by the $210 billion-asset BB&T's two recent deals in eastern Pennsylvania.
"Recent acquisitions of other banks in the region have dislodged a number of talented bank employees and Malvern Federal is in an excellent position to bring some of this talent on board," Weagley said in a Wednesday news release.
Malvern is looking to hire credit analysts, commercial lenders, business development officers and tellers.
It should be able to find plenty from all categories, as BB&T has already announced plans for job cuts at its two big acquisitions in the area. BB&T on Aug. 1 purchased the $19 billion-asset Susquehanna Bancshares in Lititz, Pa. And it has an agreement in place to acquire the $9.6 billion-asset National Penn Bancshares in Allentown, Pa.
BB&T said in August that it planned to close 25 National Penn branches as it integrates the acquired bank. The bank did not say how many jobs would be cut as a result.
BB&T also said it was dismissing most of the 21-person small-business lending group from Susquehanna.
Additionally, BB&T will close a former Susquehanna loan-processing center in Hagerstown, Md., about seven miles from the Pennsylvania state line. The closing will result in the layoff of between 120 and 140 employees.
Malvern isn't the only Pennsylvania bank looking to capitalize on the disruption caused by BB&T's entry into the Keystone State. Bryn Mawr Bank hired Susquehanna's chief financial officer for the same position.