Citizens & Northern in Wellsboro, Pa., has agreed to buy Susquehanna Community Financial in West Milton, Pa.
The $2.6 billion-asset C&N said in a press release that it will pay $44.3 million for the $598 million-asset Susquehanna Community. The deal is expected to close in the fourth quarter.
“This combination continues our strategic efforts to enter attractive markets through acquisition and leverages the strengths of two reputable community banks that share a similar culture and customer-first mindset,” J. Bradley Scovill, C&N’s president and CEO, said in the release.
The deal is expected to be about ~17% accretive to C&N’s 2026 earnings per share. The company expects single-digit tangible book value dilution.
Chris Trate, Suquehanna Community’s chairman, will join C&N’s board. Dave Runk, the seller’s CEO, will serve as an executive vice president and strategic adviser, while Jeffrey Hollenbach, president and chief operating officer, will become a region president.
Piper Sandler and Barley Snyder advised C&N. Janney Montgomery Scott and Pillar+Aught advised Susquehanna Community.