NexTier Bank, based in Pittsburgh, has agreed to acquire Mars Bancorp, resulting in NexTier having total assets of more than $2.6 billion.
This is a sign of continued consolidation in the banking industry, as smaller banks look to merge with larger banks in order to compete with the largest banks in the country.
The acquisition is expected to be completed in the fourth quarter of 2020 and will result in NexTier Bank having 55 branches in Pennsylvania.
You can read this full article at: https://www.housingwire.com/articles/nextier-bank-to-acquire-mars-bank/(subscription required)
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