FCFC is the holding company for its First Commonwealth Bank subsidiary. The acquisition adds the State College, Lock Haven, Williamsport and Lewisburg markets to a financial institution that now has 147 community banking offices in 28 counties in Pennsylvania and Ohio.
“With the legal close and conversion successfully completed, we can now turn our attention toward serving the needs of nearly 23,000 new consumer and business households and expanding our commercial presence in these great new markets,” said FCFC President and CEO T. Michael Price.
Santander in turn is one of the country’s largest retail and commercial banks with $74.2 billion in assets and more than 600 branches in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware.
It is a wholly owned subsidiary of Madrid-based Banco Santander, S.A.
Santander sold branches in State College, Lock Haven, Williamsport, South Williamsport, Lewisburg, Danville, Montoursville, Beech Creek, Jersey Shore, Milton, Muncy and Renovo, which had approximately $525 million in deposits and $120 million in retail and business loans as of March 31, when the two banks agreed on the sale.
“We are a mission-driven community bank, and look forward to serving these communities and improving the financial lives of its businesses and their families for many years to come,” Price said.
First Commonwealth also has corporate banking centers in Pittsburgh as well as Canton, Cleveland and Columbus, Ohio, and mortgage offices in Wexford, Allegheny County, and Hudson and Dublin, Ohio.