In Pennsylvania, Juniata Valley Financial Corp. of Mifflintown completed its acquisition of Liverpool Community Bank.
Juniata Valley Financial acquired 39.16% of Liverpool's outstanding stock in 2006. In December 2017, it was announced that Juniata Valley Financial was acquiring the remaining 60.8% stake in the Liverpool, Pa.-based bank.
Under the deal, Liverpool Community merged into Juniata Valley Bank. Liverpool will operate as the Liverpool community office of Juniata Valley Bank.
As of March 31, Liverpool Community had assets of $46.4 million; Juniata Valley Bank had assets of $589.5 million. The combined company had consolidated assets of around $640.0 million as of April 30.
The Kafafian Group Inc. acted as financial adviser and Pillar & Aught acted as legal counsel to Liverpool Community Bank. For Juniata Valley Financial, it was Sandler O'Neill & Partners LP and Barley Snyder LLP.
Also, Juniata Valley Financial posted first-quarter net income of $1.3 million, or 28 cents per share, down from the previous year's $1.5 million, or 31 cents per share.