S&T Bancorp Receives Approval for Acquisition of DNB Financial

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S&T Bancorp has received all required regulatory approval for the pending acquisition of DNB Financial by S&T and the merger of DNB First into S&T Bank.

In June, Indiana-based S&T Bancorp announced it had signed an agreement to acquire DNB Financial, the 100-percent owner of DNB First, which has 14 locations in three counties.

At the time, DNB had $1.15 billion in assets, while S&T had $7.3 billion, making the all-stock acquisition a very large one for S&T in terms of assets.

S&T CEO Todd Brice said the 160-year-old DNB “shares the values, culture, and commitment to high quality customer service found” throughout more than a century at what today is S&T Bank.

When the acquisition is completed, DNB’s employees will join more than 1,000 employed by S&T. For each share of DNB stock, DNB shareholders will receive 1.22 shares of S&T stock.

S&T and DNB are expected to close the deal on Nov. 30.

“We would look to convert their IT systems and open on Feb. 10, 2020,” he said.

Read more about the acquisition here.

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