“Our customers can benefit from greater convenience, more choices, and better value. Our communities can benefit because we want to be a leading contributor in every community in which we do business.”
Butler, PA (PRWEB) October 03, 2014
BUTLER, PA and KITTANNING, PA October 1, 2014 – NexTier Bank and Farmers & Merchants Bank of Western PA (F&M Bank) announced today completion of the merger of the two banks after receiving all shareholder and regulatory approval. The “new” NexTier Bank, a billion dollar financial services leader, offers Western Pennsylvania businesses and consumers a comprehensive line of products and services, 24 convenient locations, and a focus on premium customer service. The combined organization will continue the commitment to community that both organizations have made a priority for well over a century.
Mark Karenchak, the current Chairman of the Board of NexTier Bank will continue in this role. Richard J. Krauland, the President and CEO of Farmers & Merchants will serve as the President and CEO of the combined entity. Krauland will also serve on the NexTier Bank Board of Directors. Other executive officers include Robert A. Bowell, Executive Vice President and Chief Lender, Richard J. DeHaas, Senior Vice President and Chief Credit Officer, Kristin S. Robertucci, Senior Vice President and Chief Financial Officer, Clem C. Rosenberger, Senior Vice President and Chief Operations Officer, Mark S. Schoen, Senior Vice President and Chief Risk Officer, and Maria W. Smathers, Senior Vice President, Sales and Marketing.
"As a result of this merger, the new NexTier has a strengthened competitive position with an expanded geographic footprint," Krauland said. “The combined organization will also offer a more robust deposit product line, technological advances such as mobile and tablet banking, enhanced consumer and commercial lending products, Investment services through NexTier Wealth Management1, and both Commercial and Personal Insurance through NexTier Insurance Services2."
“Our customers can benefit from greater convenience, more choices, and better value,” continued Krauland. “Our communities can benefit because we want to be a leading contributor in every community in which we do business.”
NexTier Bank has assets of $970 million and serves the western Pennsylvania region with corporate headquarters in Butler. NexTier, Inc. includes NexTier Bank, NexTier Insurance Services and NexTier Wealth Management. NexTier Bank has 24 community offices throughout northern Allegheny, Armstrong and Butler counties. http://www.nextierbank.com
NexTier Corporate Profile
A Corporate Profile is attached to this press release.
Welcome to the New NexTier!
1Securities offered through LPL Financial, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. NexTier Bank and NexTier Wealth Management are not registered brokers/dealers and are not affiliated with LPL Financial.
2Insurance products are not guaranteed by the Bank. Not FDIC insured. Not a deposit. Not insured by any Federal Government Agency. May lose value including loss of principal.