Credit: Tom Sofield/LevittownNow.com
One of the largest local banking mergers in recent years is one step closer to being completed.
First Savings Bank of Perkasie and First Federal of Bucks County recently got the go ahead from the Pennsylvania Department of State’s Bureau of Corporations to reserve the Penn Community Bank name for their combined organization.
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The unification deal between First Savings Bank of Perkasie and Bristol Borough-based First Federal of Bucks County still is awaiting approval from the Federal Reserve, the Pennsylvania Department of Banking and Securities, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency. Bank officials said they expect approvals to be completed before fall.
First Federal of Bucks County President and CEO Jeane Coyle, who will assume the same role with the new bank, said the name comes after feedback from customers and business partners. She added, ” the name ‘Penn’ speaks of a deeply rooted, rich history in Bucks County and throughout southeastern Pennsylvania.”
While the new name may begin to appear on documents in fall, a full integration of the new bank’s identity is on track for 2016.
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Currently, the two banks each have 11 locations.
