February 17, 2017

On February 17, 2017, Bally Savings Bank (“Bally”), Bally, Pennsylvania, and Ambler Savings Bank (“Ambler”), Ambler, Pennsylvania, jointly announced that Bally will merge with and into Ambler and operate as Bally Savings Bank, a Division of Ambler Savings Bank. The combined institution will have approximately $324 million in deposits, $395 million in assets, and a network of five branches serving both Montgomery and Berks Counties, Pennsylvania.

Luse Gorman served as legal counsel to Bally in the transaction.  The Luse Gorman team was led by Kent Krudys and Lawrence Spaccasi.

Bally, a Pennsylvania-chartered mutual savings bank originally incorporated in 1923, operates one banking office serving Bally, Pennsylvania.

Ambler, a Pennsylvania-chartered mutual savings bank originally established in 1899, operates four banking offices in Montgomery County, Pennsylvania.