ABA-AmeriNational to purchase Northwest, Orrstown to buy Codorus Valley
December 20, 2023 at 05:34 am EST
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AmeriNational Community Services in Albert Lea, Minnesota, has applied to buy Northwest Bancorp. of Illinois in Palatine.
AmeriNational, an economic development and affordable housing loan servicer, applied with the Federal Reserve to form a bank holding company to buy the parent of the $208 million-asset First Bank and Trust Co. of Illinois.
Orrstown Financial Services in Shippensburg, Pennsylvania, has agreed to buy Codorus Valley Bancorp in York, Pennsylvania. The $3.1 billion-asset Orrstown said in a press release that it will pay $207 million in stock for the $2.2 billion-asset Codorus Valley. The deal is expected to close in the third quarter.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
Orrstown Financial Services, Inc. is a financial holding company for its wholly owned subsidiary Orrstown Bank (the Bank). The Company provides banking and financial advisory services located in south central Pennsylvania, principally in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry and York Counties, Pennsylvania, and in Anne Arundel, Baltimore, Howard and Washington Counties, Maryland, as well as Baltimore City, Maryland. The Companyâs lending area also includes adjacent counties in Pennsylvania and Maryland, as well as Loudon County, Virginia and Berkeley, Jefferson and Morgan Counties, West Virginia. The Bank operates in the community banking segment and engages in lending activities, including commercial, residential, commercial mortgages, construction, municipal, and various forms of consumer lending and deposit services, including checking, savings, time, and money market deposits. The Bank also provides fiduciary, investment advisory, insurance, and brokerage services.
ORRSTOWN FINANCIAL SERVICES, INC. 
