Mid Penn Bancorp, Inc. announced this week that it’s acquired Riverview Financial Corporation.
The transaction was completed after the close of business on November 30, 2021. In connection with the holding company merger, Riverview’s banking subsidiary, Riverview Bank, has been merged with and into Mid Penn’s subsidiary bank, Mid Penn Bank.
The all-stock transaction was valued at approximately $124.7 million and will extend Mid Penn’s footprint into attractive new markets, including the Lehigh Valley and State College region, and will expand its presence in Western Pennsylvania. The consolidated assets of the combined company are valued at approximately $4.7 billion.
“We are pleased to welcome Riverview customers, employees and shareholders to Mid Penn and Mid Penn Bank,” Mid Penn President and CEO Rory G. Ritrievi says. “As we introduce the Mid Penn brand of community banking throughout the Riverview footprint, we are committed to making this combination a positive one for all involved. We believe our commitment to offering the best products and services, delivered by the best financial professionals, will be appreciated by customers and the communities at large.”
(From a press release)