Benzinga | Nov 15, 2021 11:17AM EST

Mid Penn Bancorp Reports Receives Regulatory Approvals For Riverview Merger

Mid Penn Bancorp, Inc. ("Mid Penn") (NASDAQ:MPB) and Riverview Financial Corporation ("Riverview") (NASDAQ:RIVE) announced today that they have received all required approvals from the applicable bank regulatory agencies to complete the proposed merger of Riverview with and into Mid Penn. Pending receipt of approval from shareholders of Mid Penn and Riverview, and certain other customary closing conditions, the parties intend to close the transaction in the fourth quarter of 2021. Following completion of the merger, Riverview Bank will be merged with and into Mid Penn Bank.

"We are pleased to have received regulatory approval of our merger that supports our growth objectives, complements our franchise, and propels long-term shareholder value," said Mid Penn President and CEO Rory G. Ritrievi. "Mid Penn and Riverview continue to work collectively towards a fourth-quarter closing of this transaction and are meeting timelines and milestones as expected."

The merger will extend Mid Penn's footprint into attractive new markets, including the Lehigh Valley and State College region, and will expand its presence in Western Pennsylvania. Mid Penn, on a pro forma basis following completion of the merger, is projected to have $4.7 billion in assets.