The Farmers National Bank of Emlenton announced that the opening of a full service branch banking office in Aspinwall, Allegheny County, Pennsylvania is planned for later this year.
The Bank recently received regulatory approval from the Office of the Comptroller of the Currency to open a branch office at 319 Freeport Road in the Pittsburgh suburb of Aspinwall.
This new office will complement the Bank’s acquisition of United American Savings Bank located on the South Side of Pittsburgh that was announced late last year. The completion of the United American purchase is contingent upon approvals from both Farmers National Bank and United American banking regulators and United American shareholders. This transaction is expected to be consummated during the second quarter of 2016. Farmers National Bank expects to open the Aspinwall banking office during the third quarter 2016.
William C. Marsh, Chairman of the Board, President and Chief Executive Officer, of Farmers National Bank, and its parent holding company, Emclaire Financial Corp (Nasdaq: EMCF), noted, “We are excited by the prospect of better penetrating the Pittsburgh market through our purchase of United American Savings Bank and the opening of a new office in Aspinwall. This expansion supports our strategy to profitably grow our banking franchise in contiguous markets and leverage our brand of hands on community banking.”
With the opening of the Aspinwall office and completion of the United American transaction, Emclaire Financial Corp, with nearly $600 million in assets, will enter the desirable Allegheny County banking market. The Bank will expand from 15 offices in eight counties to 17 offices in nine western Pennsylvania counties.
The Farmers National Bank of Emlenton is an independent, nationally chartered, FDIC-insured community commercial bank headquartered in Emlenton, Pennsylvania, operating fifteen full-service offices in Venango, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson and Mercer Counties, Pennsylvania. The Bank is a wholly owned subsidiary of Emclaire Financial Corp (NASDAQ: “EMCF”). For more information about The Farmers National Bank, please visit the website at www.farmersnb.com or call 877-862-9270.