Susquehanna Bank
 | This article includes a list of general references, but it lacks sufficient corresponding inline citations. (November 2015) |
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| Industry | Bank holding company |
|---|---|
| Founded | 1901 (As "Farmers National Bank of Lititz") |
| Defunct | 2015 |
| Fate | Acquired by BB&T (now Truist Financial) |
| Successor | Truist Financial |
| Headquarters | Lancaster, Pennsylvania |
| Products | Financial services |
Susquehanna Bank was a Lancaster, Pennsylvania-based bank which operated over 260 branches in four states including Pennsylvania, Maryland, New Jersey, and West Virginia. Susquehanna Bank's parent company was Susquehanna Bancshares, Inc. (Nasdaq: SUSQ) a regional financial services holding company based in Lititz, Pennsylvania with assets of approximately US$18,000,000,000 and 3,400 employees.
History
[edit]Susquehanna Bank was founded in 1901 as the Farmers National Bank of Lititz. In 1972 this bank changed its name to Farmers First Bank, and beginning in the 1970s it began to acquire other banks in the region, establishing Susquehanna Bancshares as its holding company in 1982[1] and expanding its reach into the states south of Pennsylvania beginning in the late 1980s.[2] In 2004, Susquehanna Bancshares consolidated its operations into three banks, all using the Susquehanna name.[3][4] The company continued to expand, including two large acquisitions in 2008.[5]
In 2008, Susquehanna Bank acquired the naming rights to the Susquehanna Bank Center in Camden, New Jersey.[6][7]
In 2011, Susquehanna Bank announced its purchase of Abington Bank.[8]
In 2014, BB&T (now Truist Financial), announced the acquisition of Susquehanna Bank.[9] The deal was finalized on August 3, 2015, and all Susquehanna Bank branches, as well as the Entertainment Center in Camden, were converted to BB&T four months later.[10][11]
References
[edit]- ^ "Lititz, Pa.-Based Susquehanna Bancshares to Acquire Patriot Bank",Reading Eagle reprinted by Knight Ridder Tribune Business News, December 12, 2003 .
- ^ Joseph Radigan, "The Little Empire Builders", US Banker, September 1, 1994. .
- ^ Tim Mekeel, "Susquehanna Bancshares to realign 8 banks into 3; Farmers First Bank, part of Lancaster County since 1901, will become Susquehanna Bank PA." Lancaster New Era, October 1, 2004.
- ^ Peter Heerwagen, "Susquehanna Bancshares to Consolidate and Rename its Two Banks in Region", Quad-State Business Journal, November 1, 2004.
- ^ Tim Stuhldreher, "Bank Growth Not Easy, but It's Critical in Today's Economy", Central Penn Business Journal, July 6, 2012.
- ^ Jeff Blumenthal, "Susquehanna Bank taking over naming rights at Tweeter Center", Philadelphia Business Journal, February 4, 2008.
- ^ Harold Brubaker, "Tweeter Center is being renamed: The Camden concert venue will be Susquehanna Bank Center in a $10 million deal with the Lititz, Pa., firm." Philadelphia Inquirer, February 5, 2008.
- ^ Blumenthal, Jeff (October 3, 2011). "Abington Bank now Susquehanna as $273M deal closes". Philadelphia Business Journal. www.bizjournals.com. Archived from the original on November 15, 2011. Retrieved July 27, 2023.
- ^ "BB&T plans to acquire Susquehanna bank".
- ^ "BB&T closes acquisition of Susquehanna Bank".
- ^ "Susquehanna Bank branches to temporary close as BB&T takes over". October 29, 2015.