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Standard Financial, Allegheny Valley Bancorp complete merger


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Standard Financial, Allegheny Valley Bancorp complete merger

In Pennsylvania, Monroeville-based Standard Financial Corp. on April 7 completed its merger with Pittsburgh-based Allegheny Valley Bancorp Inc.

Standard Financial President and CEO Timothy Zimmerman will act as CEO of the combined company, which will be rebranded as Standard AVB Financial Corp., while Allegheny Valley President and CEO Andrew Hasley will serve as its president.

Furthermore, the combined bank, which will operate as Standard Bank PaSB, will have roughly $1.0 billion in assets and 18 locations throughout Southwestern Pennsylvania and Western Maryland, and will be headquartered in Monroeville, Pa.

Standard AVB Financial expects to convert and consolidate data processing platforms, systems and customer files in August.

As of Dec. 31, 2016, Standard Financial has $488.0 million in assets, while Allegheny Valley has $440.0 million in assets.