Susquehanna, Tower shareholders OK merger – Central Penn Business Journal
CPBJ Reports: Shareholders of Susquehanna Bancshares Inc. and Tower Bancorp Inc. on Wednesday approved the merger of the two midstate banking firms. The votes set the stage for a planned Feb. 17 integration.
Susquehanna said June 20 it would acquire Tower for $343 million in stock and cash. The merged institution will have about $17.8 billion in assets and more than 250 locations in Maryland, New Jersey, Pennsylvania and West Virginia.
Susquehanna, based in Lititz, is the parent company of Susquehanna Bank. Its shares trade on the Nasdaq under the ticker symbol SUSQ. Tower, based in Harrisburg, is the parent of Graystone Tower Bank, which operates under the Graystone, Tower and 1N brands. Its shares trade on the Nasdaq under the ticker symbol TOBC.