First Commonwealth Bank’s footprint continues to grow as it has announced the acquisition of a south-central PA-based bank.
Indiana-based First Commonwealth has acquired Centric Financial Corporation in an all-stock transaction valued around $140 million. Following the merger of the parent holding companies, Centric Bank will merge with and into First Commonwealth Bank locations. Founded in 2007, Centric Financial Corporation has been named for four straight years to the American Banker’s “Best Banks To Work For” list, and was named four times to American Banker’s Top 200 Publicly Traded Community Banks list. Centric has eight locations, including Harrisburg, Camp Hill, Mechanicsburg, Hummelstown, Doylestown, Lancaster and two in Devon.
First Commonwealth CEO and President Mike Price said in a news release that he has long admired Centric’s team and its CEO, Patti Husic, for its work in creating an extraordinary workplace culture. Husic added that the partnership will “provide our customers and communities with greater access to additional products and services that we believe will result in an enhanced customer experience.”
When the merger is complete, Husic will be appointed to First Commonwealth’s Board of Directors.
