The boards of directors at Wellsboro-based C&N and West Milton-based Susquehanna Community Bank have agreed to a plan of merger pursuant to which the latter will merge with and into C&N.
With consolidated assets of $2.6 billion, C&N operates 28 banking offices and one loan production office in Pennsylvania and New York. Susquehanna Community Bank, which operates seven banking offices in central Pennsylvania, has assets of $598 million. The combined company will have approximately $3.2 billion in assets and will be the premier Pennsylvania community bank in the northern tier and central and southeast Pennsylvania.
This strategic combination represents a substantial extension of legacy C&N markets, creating additional scale in central Pennsylvania, while enhancing C&N’s capacity to provide exceptional service and solutions to its clients across the Commonwealth. Also, C&N will further diversify its loan portfolio and funding base, increasing its resiliency and efficiency. The combined entity will successfully align its core values to ensure best-in-class service to the Pennsylvania community.
“This combination continues our strategic efforts to enter attractive markets through acquisition and leverages the strengths of two reputable community banks that share a similar culture and customer-first mindset,” said Brad Scovill, President and CEO of C&N. “We believe this is a great fit.”
Chris Trate, Chairman of Susquehanna Community Bank’s Board of Directors, will join C&N’s Board of Directors. Also, David S. Runk, CEO of Susquehanna, will become a member of C&N’s executive team as EVP and Strategic Advisor. Jeffrey Hollenbach, President and COO at Susquehanna, has agreed to lead the Susquehanna market as Region President.
“This transaction is very positive for our shareholders, providing them with an attractive return on their investment in Susquehanna Community Financial, enhanced liquidity, and an opportunity to create greater value in the years ahead,” said Runk. “We believe the time is right for Susquehanna Community Financial to partner with a significant and growing bank like C&N that will provide our customers access to a diversified product set and expanded banking capabilities.”
The merger is expected to close in the fourth quarter of 2025.
Learn more about C&N and its variety of banking solutions.
