MNBP - NexTier and Mars Bancorp to merge
2023-08-31 08:59:27 ET
NexTier, the holding company of NexTier Bank will acquire Mars Bancorp ( OTCQX:MNBP ), the holding company of Mars Bank.
The proposed transaction will result in Western Pennsylvania's premier, locally owned and managed community bank having total assets in excess of $2.6B.
Upon consummation of the proposed transaction, Mars Bank will be merged with and into NexTier Bank, with the combined company and branch locations operating under the NexTier Bank brand.
Clem Rosenberger, NexTier's President and CEO will lead the combined institution, and Jim Dionise, Mars' President and CEO will join the NexTier Bank Board of Directors upon the consummation of the merger.
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NexTier and Mars Bancorp to merge