Juniata Valley Bank to acquire Orrstown's Path Valley branch, assume ~$31.7M deposits

JUNIATA VALLEY FINANCIAL CORP

Deposit assumption of ~$31.7M; premium of 6% of final deposit balance; no loans conveyed.
Assets purchased include branch real estate, furniture, equipment, and cash at branch.
Transaction expected to close Q2 2023, subject to regulatory approvals.
Path Valley branch will remain open as Orrstown until closing, then become Juniata branch.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

JUNIATA VALLEY FINANCIAL CORP entered into Purchase and Assumption Agreement with Orrstown Bank valued at approximately $31.7 million (effective 2022-12-23).

Action: entry
Agreement: asset purchase
Counterparty: Orrstown Bank
Value: approximately $31.7 million
Effective: 2022-12-23

Exact text from the filing

On December 23, 2022, Juniata Valley Financial Corp. (the “Company”) announced that its subsidiary, the Juniata Valley Bank (the “Bank”), had entered into a Purchase and Assumption Agreement (the “Agreement”) with Orrstown Bank (“Orrstown”), a wholly-owned subsidiary of Orrstown Financial Services, Inc., providing for the purchase by the Bank of Orrstown’s Path Valley branch located at 16400 Path Valley Road in Spring Run, PA (the “Branch”).

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23 material agreements filed in the last 30 days. Browse all material agreements →

JUNIATA VALLEY FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001558370-22-019012

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