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Ephrata National to form holding company

Ephrata National Bank is forming a holding company.

Ephrata National Bank is forming a holding company.

The bank recently applied for permission from federal regulators to create ENB Financial Corp., which would own the bank. The holding company would give the bank more flexibility to hold on to real estate and to buy or sell stocks of other banks, said Ephrata National Chairman, President and Chief Executive Officer Aaron Groff.

Banks sometimes form holding companies to add other lines of business, such as insurance, but Groff said there were no plans for such additions.

Shareholders would have to approve the formation of the holding company. Ephrata National Bank shares are traded on the Over the Counter Bulletin Board under the symbol EPNB.

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