Riverview Financial Corp. has completed its acquisition of Citizens National Bank of Meyersdale through a stock and cash transaction.
Riverview Financial Corporation is the bank holding company of Riverview Bank. Effective December 31, 2015, Citizens merged with and into Riverview Bank. The former Citizens branches will operate under the new name Citizens Neighborhood Bank, a division of Riverview Bank. The combined company will have total assets, loans, and deposits of approximately $536.9 million, $405 million and $448.1 million, respectively. Riverview Bank will continue to operate as a full service commercial bank and provide deposit, personal and business lending, and investment services from 15 locations in Pennsylvania.
Ambassador Financial Group, Inc. served as financial advisor to Riverview and rendered a fairness opinion in connection with the transaction, and Barley Snyder LLC served as legal counsel to Riverview. Sandler O'Neill + Partners, L.P. served as financial advisor to Citizens and rendered a fairness opinion. Shumaker Williams, P.C. served as legal counsel to Citizens.
