|Founded||1878 (Citizens National Bank)|
|Headquarters||Evans City, Pennsylvania, United States|
|Key people||Mark Karenchak, Chairman of the Board; Margaret Irvine Weir, President; Donald Shamey, Chief Executive Officer|
Founding as Citizens National Bank
S.J. Irvine, Sr. founded the bank in 1878 under its original name, Citizens National Bank, in the oil boomtown of Evansburg, Pennsylvania (now Evans City, Pennsylvania). The bank received a state charter in 1893 and its national charter in 1907.
In 1940, S.J. Irvine, Jr. succeeded his father as president. In 1959, S.J. Irvine III, began his career as bank president. In 2000, his daughter, Margaret Irvine Weir, became president of the bank, representing the fourth generation of the Irvine family to head the company.
Name change to NexTier
On October 11, 2005, the bank officially changed its name to NexTier Bank. It also adopted the tagline "Experience The Next Level."
Don Shamey is Chief Executive Officer. Margaret Irvine Weir is President. Chairman of the Board is Mark Karenchak.
The primary operations of NexTier include NexTier Bank, NexTier Insurance Services, and a loan production office in Phoenix, AZ.
On May 5, 2010, Warren, Pennsylvania-based Northwest Bancshares agreed to buy NexTier for $20.3 million in cash.was expected to close by the end of 2010, upon which the NexTier name would have been replaced by the Northwest Savings Bank name.
NexTier Inc. announced on November 8, 2010 that it terminated its agreement to merge with Northwest Bancshares, Inc. (Nasdaq: NWBI), citing Northwest’s inability to secure regulatory approval for the merger. NexTier announced its intention to seek an infusion of cash subsequent to the termination of the merger agreement.
NexTier and the Snyder Group
On February 2, 2010, NexTier, Inc., announced the successful completion of capital raising efforts. The Snyder Group of Kittaning, PA provided NexTier a capital infusion in the form of an investment in common stock, with an initial investment to NexTier January 31, 2011.. On April 14, 2011, NexTier Inc. announced regulatory approval from federal and state regulators for the capital infusion from the Snyder Group. The remaining capital infusion was completed in April 2011, resulting in 51% ownership of NexTier.
The Snyder Group is the owner of Snyder Associated Companies, a holding company with investments in mining, oil, and natural gas exploration activities, manufacturing, agriculture and banking. The Snyder Group has a majority interest in the Farmers and Merchants Bank of Western Pennsylvania, based in Kittanning with 8 community offices serving Armstrong County.
- NexTier Bank History
- "Newsmaker: Margaret Irvine Weir," Pittsburgh Tribune-Review.
- "Citizens out, NexTier in," Pittsburgh Post-Gazette.
- "NexTier to buy insurance firm," Pittsburgh Business Times.
- "Seneca Valley sells naming rights," Pittsburgh Post-Gazette
- Best Places to Work in PA 2008
- Best Places to Work in PA 2000
- Best Places to Work in PA 2001
- "BBB Announces Winners of 2008 Torch Award for Marketplace Ethics"