Northwest Bancshares in Columbus, Ohio, has agreed to buy Penns Woods Bancorp in Williamsport, Pennsylvania. The $14.4 billion-asset Northwest said in a news release that it will pay $270.4 million in stock for the $2.3 billion-asset Penns Woods. The deal, which is expected to close in the third quarter, priced Penns Woods at 139% of its tangible book value.
Berkshire Hills Bancorp in Boston has agreed to buy Brookline Bancorp in Boston. The $11.6 billion-asset Berkshire said in a news release that it will pay $1.1 billion in stock for the $11.7 billion-asset Brookline. The deal is expected to close in the second half of next year.
Heritage Bancshares in Topeka, Kansas, has agreed to buy Fidelity Kansas Bancshares in Topeka. The parent of the $135 million-asset Heritage Bank said in a news release that it expects to complete its purchase of the parent of the $160 million-asset Fidelity State Bank and Trust in the second quarter. The price wasn’t disclosed.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
