Juniata Valley Financial acquires FNBPA Bancorp.
Global Banking News-June 26, 2015--Juniata Valley Financial acquires FNBPA Bancorp
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Global Banking News - 26 June 2015
Juniata Valley Financial Corp. (OTC Pink: JUVF), the bank holding company of The Juniata Valley Bank (JVB), and FNBPA Bancorp Inc. (OTC Pink: FNBP), the bank holding company of First National Bank of Port Allegany, have announced the execution of an agreement and plan of merger, under which Juniata Valley Financial will acquire all of the shares of FNBPA Bancorp in a stock and cash transaction.
Under the merger agreement, FNBPA Bancorp shareholders may elect to receive, in exchange for each share of FNBPA Bancorp common stock they own, either cash of USD50.34 or 2.7813 shares of Juniata Valley Financial common stock, subject to election and allocation procedures. The transaction is valued at approximately USD13.2m.
As of March 31, 2015, Juniata Valley Financial had consolidated assets of USD473m. Juniata's wholly-owned banking subsidiary, JVB, is a Pennsylvania state-chartered bank headquartered in Mifflintown, Pennsylvania, which operates 12 community bank offices in the counties of Centre, Huntingdon, Juniata, Mifflin, and Perry. First National Bank of Port Allegany, with assets of USD96m as of March 31, 2015, is a national bank headquartered in Port Allegany, Pennsylvania, operating three locations in Potter and McKean counties.
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