Mid Penn Bancorp in Harrisburg, Pa., bought Cumberland Advisors, an investment adviser in Sarasota, Fla.
The $6 billion-asset Mid Penn did not disclosed the price it paid for the firm, which has about $3.2 billion in assets under management.
“Cumberland has built a strong reputation for excellence and is the ideal choice to help us continue our legacy of delivering exceptional financial solutions while maintaining a strong commitment to customer care,” Rory Ritrievi, Mid Penn’s chairman, president and CEO, said in a press release.