Mid Penn Bancorp (NASDAQ: MPB) has acquired Riverview Financial Corp.; in connection with the deal Riverview Bank will be merged into Mid Penn Bank.
The all stock transaction has been valued at $124.7 million and will extend the reach of Mid Penn into new markets. The assets of the combined firm total to approximately $4.7 billion.
“As we introduce the Mid Penn brand of community banking throughout the Riverview footprint, we are committed to making this combination a positive one for all involved,” added Rory Ritrievi, Mid Penn president and CEO. “We believe our commitment to offering the best products and services, delivered by the best financial professionals, will be appreciated by customers and the communities at large.”
Piper Sandler & Co. served as financial advisor to Mid Penn in connection with the transaction and Stephens Inc. rendered a fairness opinion to Mid Penn’s board of directors. Pillar+Aught served as legal advisor to Mid Penn in the transaction. Janney Montgomery Scott LLC served as financial advisor to Riverview in connection with the transaction and rendered a fairness opinion to the Riverview board of directors. Luse Gorman, PC served as legal advisor to Riverview.