Dollar Mutual Bancorp completes merger with Standard AVB Financial Corp. from
Under the terms of the Merger Agreement, Standard’s shareholders will receive $ 33.00 in cash for each share of the standard common stock they own, or an aggregate Merger Fee of approximately $ 156 million.
In connection with the merger, Standard Bank was converted into a federal savings bank. Dollar Bank and Standard Bank will continue to operate as separate financial institutions with Dollar as the holding company for each institution, and Standard Bank will continue to be operated by its current management team.
Through its two banking subsidiaries, Dollar now has 98 locations in Pennsylvania, Ohio, Virginia, and Maryland and about $ 11.5 billion in assets.
Raymond James served as a financial advisor and Luse Gorman, PC served as legal advisor for dollars. Keefe, Bruyette & Woods, a Stifel company, acted as financial advisor and Kilpatrick Townsend & Stockton LLP served as legal advisor to Standard.
Via Dollar Mutual Bancorp
Headquarters in Pittsburgh, Pennsylvania, Dollar Mutual Bancorp, with total assets of $ 11.5 billionis the mutual holding company of Dollar Bank, Federal Savings Bank and Standard Bank. Dollar Mutual Bancorp operates 98 branches in Pennsylvania, Ohio, Virginia, and Maryland and has 1,553 employees. For over 166 years, Dollar Bank has grown into a large, full-service community bank dedicated to providing the highest quality banking services to individuals and businesses. The Dollar Bank (Dollar.Bank) is headquartered in Pittsburgh, Pennsylvania.
SOURCE Dollar Mutual Bancorp