Brentwood Bank Acquires Union Building and Loan Savings Bank
BETHEL PARK, Pa., April 10, 2019 /PRNewswire/ -- Brentwood Bank ("Brentwood"), a wholly-owned subsidiary of Mutual Holding Company of Western Pennsylvania ("MHC"), and Union Building and Loan Savings Bank, West Bridgewater, Pennsylvania ("Union"), a mutual savings bank, announced the completion of the merger of Union with and into Brentwood, with Brentwood as the surviving bank, which was consummated on April 1, 2019.
The merger was completed pursuant to the terms of the agreement and plan of merger, dated as of July 17, 2018, by and among MHC, Brentwood and Union. In connection with the merger, Brentwood intends to maintain the Union branch location as "Union Building and Loan Savings Bank, a division of Brentwood Bank" for at least three years. Brentwood will have combined assets of approximately $671 million and customers of both banks will have access to five banking centers and limited service mobile offices located in Bridgewater, Bethel Park, Brentwood, South Fayette and South Park. The merger is not expected to result in any job losses or branch closings.
"We are pleased to announce the completion of the merger. We are excited to work with Union's employees to incorporate the Union branch office into Brentwood's operations and ensure that our customers and the community continue to receive the level of support that we have been providing for more than 96 years," said Thomas Bailey, President and Chief Executive Officer of Brentwood Bank.
"We are pleased to become a part of the Brentwood Bank family. Our Board of Trustees and executive management team recognized the potential benefits to our customers from the additional services and locations that Brentwood could provide. We look forward to seeing our vision and community outreach continue as part of the Brentwood Bank family," said Dan Lutz, Vice President and Chief Financial Officer of Union Building and Loan Savings Bank.
About Brentwood Bank
Brentwood Bank has proudly served the South Hills region of Pittsburgh since 1922. Since then, we've maintained our local roots while growing the bank to five locations; Beaver; Bethel Park, Brentwood, South Fayette, South Park. We offer a full range of financial products and services and are committed to providing exceptional service and value to our customers and our communities throughout the Greater Pittsburgh area.
For more information about Brentwood Bank, please visit www.brentwoodbank.com.
SOURCE Brentwood Bank