A bank holding company based in Dauphin County is buying a branch office from the parent company of another Dauphin County bank.
Gratz-based GNB Financial Services Inc., the parent company of The Gratz Bank, announced this week that it is acquiring a Riverview Bank branch in Trevorton, Northumberland County. Terms of the deal were not disclosed.
The branch purchase, which is expected to close late in the fourth quarter, will give The Gratz Bank six branch locations in Dauphin, Schuylkill and Northumberland counties. It will also boost the northern Dauphin County bank’s deposits and customer base. As of June 30, 2018, Riverview had about $22.7 million in deposits at the Trevorton branch, according to the Federal Deposit Insurance Corp.
The Gratz Bank currently has assets of nearly $350 million.
Susquehanna Township-based Riverview Financial Corp., the parent company of Riverview Bank, operates 28 branch offices, including seven under the Riverview Bank name. Riverview also has two other banking divisions — CBT Bank and Citizens Neighborhood Bank — along with CBT Financial and Trust Management and Riverview Wealth Management.
Riverview has assets of about $1.2 billion.