Emlenton, Pa., October 01, 2018 - Emclaire Financial Corp (NASDAQ: EMCF) (Emclaire), the parent holding company of The Farmers National Bank of Emlenton (Farmers National), announced today that, as of October 1, 2018, they have completed the acquisition of Community First Bancorp, Inc., Reynoldsville, Pennsylvania (“Community First”), and its banking subsidiary Community First Bank.
Emlenton, Pa. and Reynoldsville, Pa., Sept. 21, 2018 - Emclaire Financial Corp (NASDAQ: EMCF) (“Emclaire”), the holding company of The Farmers National Bank of Emlenton(“Farmers National”), and Community First Bancorp, Inc. (“Community First”), the holding company of Community First Bank, jointly announced today that the shareholders of Community First approved and adopted the Agreement and Plan of Merger providing for the merger of Community with and into Emclaire at a special meeting of shareholders held on September 20, 2018. In addition, all required regulatory approvals for completion of the merger have been obtained. The merger is expected to be completed on or about October 1, 2018, subject to satisfaction of customary closing conditions.
Emlenton, Pennsylvania, February 14, 2018 – The Farmers National Bank of Emlenton has made a $30,000 contribution to Penn State DuBois in support of The Open Doors Scholarship Program. This endowment will provide financial assistance to students who are attending the DuBois campus and involved in the pilot programs.
EMLENTON, Pa., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Emclaire Financial Corp (NASDAQ:EMCF) (Emclaire), the parent holding company of The Farmers National Bank of Emlenton (Farmers National), announced today that, as of September 30, 2017, they have completed the acquisition of Northern Hancock Bank and Trust Co., Newell, West Virginia (Northern Hancock).
The Farmers National Bank of Emlenton recently donated $2,500 to Junior Achievement of Western Pennsylvania in support of their annual fundraising campaign.
EMLENTON, Pa., May 02, 2016 -- Emclaire Financial Corp (NASDAQ:EMCF) (Emclaire), the parent holding company of The Farmers National Bank of Emlenton (Farmers National), announced today that, as of April 30, 2016, they have completed the acquisition of United-American Savings Bank, Pittsburgh, Pennsylvania (United-American).
The transaction has expanded Emclaire's franchise into Pittsburgh and increased Emclaire's consolidated total assets and total deposits to approximately $688 million and $582 million, respectively. The transaction is expected to be immediately accretive to Emclaire's earnings for the remainder of 2016, excluding one-time charges, and 29% accretive to 2017 earnings. No additional capital was needed to complete the transaction and Emclaire and Farmers National remain "well-capitalized" institutions for regulatory purposes. Emclaire plans to convert the former United-American office and operating systems in late June 2016. Under the terms of the merger agreement, shareholders of United-American will receive $42.67 in cash for each share of common stock of United-American or approximately $14.1 million in the aggregate.
William C. Marsh, Chairman, President and Chief Executive Officer of Emclaire and Farmers National, stated, "We are pleased to welcome all United-American depositors and customers to the Emclaire family. We are excited to expand our franchise into Pittsburgh and look forward to building upon and enhancing the customer relationships that United-American developed over the years. The acquisition of United-American coupled with the planned third quarter opening of our new full-service banking office in Aspinwall, Pennsylvania (a Pittsburgh suburb) reflects our strategy to profitably grow our banking franchise in desirable contiguous markets."
Tom Smith, President and Chief Executive Officer of United-American, said, "We are pleased to have joined forces with Emclaire and Farmers National. This is a win-win for our shareholders and customers."
Silver, Freedman, Taff & Tiernan LLP, Washington, DC acted as legal counsel to Emclaire in the transaction. Jones Walker LLP, Washington, DC acted as legal counsel and Raymond James & Associates, Inc. acted as financial advisor to United-American.
About Emclaire Financial Corp
Emclaire Financial Corp is the parent company of The Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community bank headquartered in Emlenton, Pennsylvania, operating 16 full service offices in Pittsburgh and in Venango, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson and Mercer counties, Pennsylvania. Emclaire's common stock is quoted on and traded through the NASDAQ Capital Market under the symbol "EMCF". For more information, visit Emclaire's website at "www.emclairefinancial.com."
This release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements do not relate strictly to historical or current facts. Forward-looking statements reflect management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors - many of which are beyond our control - could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements regarding the transaction are based upon currently available information.
Actual results could differ materially from those indicated in forward-looking statements. Among other factors, actual results may differ from those described in forward-looking statements due to: the possibility that the proposed transaction does not close when expected or at all because required regulatory, shareholder or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all; the terms of the proposed transaction may need to be modified to obtain such approvals or satisfy such conditions; the anticipated benefits from the proposed transaction are not realized in the time frame anticipated or at all as a result of changes in general economic and market conditions, interest rates, laws and regulations and their enforcement, and the degree of competition in our markets; the ability to promptly and effectively integrate the businesses of the companies; the reaction of the companies' customers to the transaction; diversion of management time on merger-related issues; changes in asset quality and credit risk; the inability to sustain revenue and earnings; and competitive conditions.
Emclaire's Annual Report on Form 10-K and other reports filed with the SEC describe some additional factors which could cause actual conditions, events or results to differ significantly from those described in forward-looking statements.
Forward-looking statements speak only as of the date they are made. Copies of Emclaire's reports filed with the SEC are available in the Financial Information section of Emclaire's website, www.emclairefinancial.com. We do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.
Emlenton, Pennsylvania, March 1, 2016 – The Farmers National Bank of Emlenton announced today the launch of their new Mobile Deposit capabilities for Apple® and Android™ devices. The new feature, available through the current Mobile App, will allow customers to take a photo of a paper check and securely deposit it directly into an eligible Farmers National Bank of Emlenton account.
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.
Emclaire Financial Corp (NASDAQ: EMCF) (Emclaire), the parent holding company of The Farmers National Bank of Emlenton (Farmers National), and United-American Savings Bank (OTCBB: UASB) (United-American) jointly announced today that they have entered into an Agreement and Plan of Merger providing for the acquisition of United-American by Emclaire.
The Farmers National Bank of Emlenton recently announced William C. Marsh, Chairman of the Board, President and Chief Executive Officer was reelected as Member Director of the Federal Home Loan Bank of Pittsburgh (FHLBank) for Pennsylvania. Marsh will begin his four-year term beginning January 1, 2016 ending on December 31, 2019.