Susquehanna Bancshares Inc. said it will consolidate its three bank subsidiaries into a single Pennsylvania-chartered bank. The consolidation, which will take effect next month, will result in a third-quarter charge of $6 million to $8 million, Susquehanna said Friday.

The $13.5 billion-asset Lititz company also said a previously announced plan to sell $350 million of vehicle leases this quarter has been shelved for now. Shelving the plan will reduce pretax income by about $6.5 million, Susquehanna said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.