Huntingdon Valley Bank and First Citizens Sign ‘Definitive Agreement’ on Joint Merger

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The parent company of Huntingdon Valley Bank, HV Bancorp. Inc. (HVBC), has announced the financial institution’s signing of a “definitive agreement” to jointly merge with Citizens Financial Services, Inc. (CZFS), the holding company of First Citizens Community Bank (FCCB).

The merger is expected to enhance and expand CZFS’s presence in Montgomery, Bucks, and Phila. counties, as well as in Del. and N.J.

Travis J. Thompson, Chief Executive Officer of HVBC, and Robert J. Marino, President of HVBC, will be employed as senior officers of FCCB.

As of June 30, 2022, HVBC had approximately:

  • $570.6 million of total assets
  • $388.3 million of net loans
  • $481.5 million of deposits

Based on financial metrics as of June 30, 2022, the combined company, at the completion of the transaction, is expected to have more than:

  • $2.78 billion in assets
  • $1.96 billion in gross loans
  • $2.36 billion in deposits

Randall Black, CZFS President and Chief Executive Officer, commented, “We are pleased to announce the strategic combination of FCCB (First Citizens Community Bank) and Huntingdon Valley Bank.

“Our complementary business models and shared values make this partnership a natural fit. Travis Thompson, HVBC Chairman and Chief Executive Officer, commented: “We could not be happier about becoming part of FCCB and look forward to the many benefits this strategic partnership will provide for our customers, employees, and shareholders.”

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