S&T Bancorp, the parent company of S&T Bank, has announced the merger acquisition of DNB First, a Downington, PA community bank with fourteen locations in Chester, Delaware, and Philadelphia counties.
The all-stock transaction will have an aggregate value of approximately $206 million, and will raise S&T’s total assets to about $8.4 billion. CEO Todd Brice says merging with the nearly 160-year-old DNB in southeastern Pennsylvania “dovetails nicely” with S&T’s expansion in the central region of the state four years ago, and with the corporation’s growth into New York and Ohio markets.
The two institutions expect the transaction to be completed sometime in the fourth quarter of this year.
