NexTier Bank is acquiring another regional bank.
Officials announced this morning that they entered into an agreement where NexTier will acquire Riverside Bank of Dublin Ohio.
According to a press release, after the deal is complete, Riverside Bank will be merged into NexTier and operate under the NexTier brand.
Riverside Bank has one location with another set to open next month; they also have reported total assets of $270 million.
Following receipt of approvals from regulatory authorities and the satisfaction of other customary closing conditions, the transaction is expected to close in the third quarter of this year.
This would bring NexTier’s total assets to over $3.1 billion.
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