Progressive-Home Federal Savings and Loan Association($51.4 million) will merge into Dollar Bank Federal Savings Bank ($7.38 billion),pending regulatory approval.
According to a press release, the merger of the twoPittsburgh-based institutions is likely to be completed by the end of the firstquarter of 2017. No layoffs or branch closings are expected.
Datacompiled by SNL shows that the combined bank will operate 39 branches inPennsylvania to be ranked No.17 with a 1.10% share of approximately $365.54billion in total market deposits and will operate 29 branches in Ohio to beranked No. 17 with a 0.56% share of approximately $323.66 billion in totalmarket deposits.
Dollar Bank has another deal in the works — with Virginia Beach, Va.-basedBank @LANTEC ($112.2million).