From humble beginnings in 1871 to modern day as a public commercial lending bank, Huntingdon Valley Bank has skyrocketed. Over the past five years, it has grown from $200 million to $550 million in assets. Its parent company, HV Bancorp comes with a high price, with a $67.4 million sale to Citizens Financial Services recently approved by the Federal Reserve System. Huntingdon Valley Bank has eight branches in the region, two are in Montgomery County.  

The deal, which was signed off by shareholders on Feb. 15 are expected to close in the first half of 2023, writes Jeff Blumenthal for the Philadelphia Business Journal. Shareholders will receive $30.50 in cash or 0.4 shares of the common stock of Citizens Financial Services.  

The bank plowed its way through the Philadelphia area by acquiring Wilmington-based Midcoast Community Bancorp in 2020. This year, Citizens Financial Services earned $29.1 million. Huntingdon Valley CEO Travis Thompson and President Bob Marino will serve as senior officers. The bank will continue to be led by CEO Randall Black. 

Read more about the imminent sale in the Philadelphia Business Journal.  

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