GRATZ — GNB Financial Services Inc. and Riverview Financial Corporation jointly announced Wednesday the execution of a definitive agreement whereby The Gratz Bank will acquire the deposits and customers of Riverview Bank in Trevorton.
Kevin Laudenslager, senior management at GNB, the parent company of Gratz Bank, confirmed the agreement to The News-Item, stating that the company is “very happy to enter the Trevorton community.”
According to a press release, the transaction is subject to regulatory approvals and other customary closing conditions. Currently, the transaction is expected to close late in the fourth quarter of 2019.
The press release states that Riverview Bank’s Trevorton branch customers will be receiving additional information related to the sale in the near future. Terms of the transaction were not announced.
GNB is a bank holding company with consolidated assets of approximately $350 million that provides financial services through The Gratz Bank. The Gratz Bank is a full-service bank that provides consumers and businesses with loans, deposit accounts and other financial services.
Offices are currently located in Gratz, Valley View, Herndon, Yorkville and Minersville. The Gratz Bank also operates a loan production office in State College.