On June 11, 2018, Northwest Bancshares, Inc. (“Northwest”), Warren, Pennsylvania, and Donegal Financial Services Corporation (“Donegal”), Marietta, Pennsylvania, the holding company of Union Community Bank, entered into a definitive merger agreement pursuant to which Donegal will merge with and into Northwest, with Northwest as the resulting company. Each outstanding share of Donegal common stock will be exchanged for 137.84 shares of Northwest common stock and $2,379.09 in cash, for total merger consideration of approximately $85.0 million. As part of the merger, Union Community Bank will merge with and into Northwest Bank, the bank subsidiary of Northwest.
Northwest has approximately $9.5 billion in total assets and operates 172 community banking offices in Pennsylvania, New York and Ohio.
Donegal Financial Services Corporation and Union Community Bank have approximately $577 million in total consolidated assets and operate 14 branch offices in Lancaster County, Pennsylvania.