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N.J.-based First Bank acquires Bucks County Bank for $27.2M

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Hamilton-based First Bank announced Monday it has completed its merger agreement with Bucks County Bank.

First Bank currently has 14 full-service branches throughout New Jersey located in Cranbury, Denville, Ewing, Flemington, Hamilton, Lawrence, Randolph, Somerset and Williamstown.

First Bank first announced the merger in March. The merger was approved during a special meeting of First Bank stockholders on Sept. 13. Bucks County Bank stockholders also approved the merger during a meeting on the same day.

The transaction will expand First Bank’s presence in Pennsylvania with the addition of four locations in Doylestown, Warminster, Bensalem and Levittown.

Now, as a combined bank, First Bank will have approximately $1.4 billion in assets and $1.1 billion in deposits.

“We are pleased to welcome the customers, employees and stockholders of Bucks County Bank to First Bank as we expand our retail and commercial banking footprint in the greater Bucks County market area,” said Patrick L. Ryan, CEO and president.

“Bucks County Bank had established a solid community banking franchise that served its local communities well and we intend to continue this tradition. John Harding, former president and chief executive officer of Bucks County Bank, will remain with First Bank as president of our new eastern Pennsylvania market area.  Under John’s direction, we will continue to focus on relationship lending to quality commercial borrowers, with a particular emphasis on commercial and industrial and owner occupied commercial real estate lending.”

“A strong community banking operation in the Bucks County market is assured by the merger,” Harding said. “I am looking forward to helping First Bank continue to build its market share in Pennsylvania.”

As the merger closes, two former Bucks County Bank directors, Harding and Christopher Chandor, have been appointed to the board of directors of First Bank.

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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