Riverview Financial Corporation and Union Bancorp, Inc. announced the completion of the consolidation of Riverview Financial Corporation and Union Bancorp, Inc., effective November 1, 2013. By virtue of the consolidation, Riverview Financial Corporation and Union Bancorp, Inc. consolidated into a newly formed, Pennsylvania corporation that will operate under the name "Riverview Financial Corporation".
In connection with the consolidation, Union Bank and Trust Company merged with Riverview Bank, with Riverview Bank surviving. As a result of the merger, on a pro forma basis as of September 30, 2013, Riverview Bank had $440 million in assets, with $318 million in loans and $394 million in deposits. Riverview Bank will continue to operate as a full service commercial bank, providing deposit, personal and business lending and wealth management services through its 18 offices located in Berks, Cumberland, Dauphin, Northumberland, Perry and Schuylkill Counties.
Under the terms of the consolidation, the newly consolidated company acquired all of the outstanding shares of Union and Riverview in a stock for stock transaction in which Union shareholders received 1.95 shares of the newly consolidated company for each Union share held, and Riverview shareholders received one share of the newly consolidated company for each Riverview share held. As a result of the transaction, Union’s and Riverview’s former shareholders own approximately 36% and 64%, respectively, of the combined company.
Main Office
25 South Centre Street
Pottsville, PA 17901
Phone: 570-622-3011
Fax: 570-622-8213
