GNB Financial Services, Inc. Completes Acquisition of FNBM Financial Corporation
March 28 2015 - 08:30AM
Business Wire
GNB Financial Services, Inc. (OTCQB: GNBF), Gratz, PA, the
holding company for The Gratz Bank, announced the completion of its
acquisition of FNBM Financial Corporation, Minersville, PA on March
27, 2015 through the merger of FNBM with and into GNB.
Subsequently, The Gratz Bank acquired The First National Bank of
Minersville through a merger of The First National Bank of
Minersville with and into The Gratz Bank. The Minersville branch
now operates as “The First Bank of Minersville, a division of The
Gratz Bank”.
As a result of the transaction, GNB Financial Services, Inc. has
approximately $282 million in total assets, $249 million in total
deposits, and $182 million in total loans with 5 branch offices in
Dauphin, Northumberland, and Schuylkill Counties, Pennsylvania.
Former FNBM directors Bruce L. Lord, Sr. and Dr. Jack A.
Aughenbaugh, Jr. have joined GNB’s and The Gratz Bank’s Boards of
Directors.
“We are pleased to welcome the customers and employees of The
First National Bank of Minersville to the GNB family,” said Wesley
M. Weymers, President and Chief Executive Officer of GNB Financial
Services, Inc. and The Gratz Bank. “Our new customers now have
enhanced product offerings, services and delivery channels, while
still providing the benefits of a local community bank.
Furthermore, the addition of The First National Bank of Minersville
to the GNB franchise enhances our organization’s market penetration
and overall shareholder value.”
A Warning About Forward-Looking Statements
This press release may contain forward-looking statements.
Actual results and trends could differ materially from those set
forth in such statements due to various factors. Such factors
include the possibility that increased demand or prices for the GNB
Financial Services, Inc.’s financial services and products may not
occur, changing economic and competitive conditions, technological
developments, and other risks and uncertainties.
GNB Financial Services, Inc.Wesley M. Weymers, President and
Chief Executive Officer717-365-3181