<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4J18GR_0vlDSHFV00" alt="https://img.particlenews.com/image.php?url=4J18GR_0vlDSHFV00" width="800" height="500" ></figure>Mifflinburg Bancorp and Northumberland Bancorp, a pair of small community banks in northcentral Pennsylvania. said yesterday they are combining in a merger of equals valued at $34.2 million.The all-stock deal is expected to close in the first half of 2025.Mifflinburg Bancorp has assets of about $568.5 million and operates seven branches in Mifflinburg, Lewisburg, Millheim, Milton, Selinsgrove and Shamokin Dam.Northumberland Bancorp has assets of about $692.5 million and operates six branches in Northumberland, Hummels Wharf, Middleburg, Port Treverton, Selinsgrove and Sunbury.The combined bank is expected to start out with assets of $1.3 billion, six directors from each merging bank and a new name: Steele Bancorp.Steele’s president and CEO will be Jeffrey Kapsar, who is currently president and CEO of Mifflinburg Bancorp. Northumberland president and CEO J. Todd Troxell will become chief administrative officer.The board chair will be Donald J. Steele Jr., currently chair of Northumberland Bancorp. Mifflinburg chair Richard Drzewiecki will become vice chair of the new board.The two banks currently do business as Mifflinburg Bank and Trust and The Northumberland National Bank. But they expect to choose a new name for the combined entity.It would be at least the second merger in the region to produce a newly named bank. The Muncy Bank and Trust Co. and First Columbia Bank &amp; Trust Co. adopted a new name after combing last year. The lender is now doing business as Journey Bank under a Bloomsburg-based holding company called Muncy Columbia Financial Corp.The advisers: The Kafafian Group is the financial adviser for Mifflinburg Bancorp, while law firm Stevens &amp; Lee is its legal adviser.Alden Investment Group is the financial adviser for Northumberland Bancorp, with legal advice coming from law firm Mette Evans &amp; Woodside.</div></body>

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Community banks in northcentral PA to merge

Mifflinburg Bancorp and Northumberland Bancorp, a pair of small community banks in northcentral Pennsylvania. said yesterday they are combining in a merger of equals valued at $34.2 million. The all-stock deal is expected to close in the first half of 2025. Mifflinburg Bancorp has assets of about $568.5 million and...