Founded in 2007, Centric Financial Corporation, and its subsidiary, Centric Bank, is headquartered in south central Pennsylvania with assets of $1.1 billion and remains a leader in organic loan growth
First Commonwealth branch in downtown New Castle, Pennsylvania. (Credit: Jgera5/Wikimedia Commons)
First Commonwealth Financial Corporation (NYSE: FCF) (“First Commonwealth”) today announced that it has received all regulatory approvals required to complete the previously announced merger of Centric Financial Corporation (“Centric”) with and into First Commonwealth and the merger of Centric Bank with and into First Commonwealth Bank.
The Federal Deposit Insurance Corporation has approved the merger of Centric Bank with and into First Commonwealth Bank, and the Pennsylvania Department of Banking and Securities has approved the merger of Centric with and into First Commonwealth and the merger of the subsidiary banks. In addition, the Federal Reserve Bank of Cleveland has granted First Commonwealth a waiver of its merger application requirements.
The completion of the merger remains subject to the approval of Centric shareholders and is expected to occur in the first quarter of 2023.
Source: Company Press Release