Susquehanna is in, Tower is out
Two banks in Greencastle became one on Friday, Feb. 17. The Susquehanna Bank acquisition of Tower Bank was finalized, the end result of a merger agreement approved by shareholders of both financial institutions on Nov. 10.
Corporate communications manager Stephen Trapnell said the account transition over the weekend went well. Telephone and online banking services were suspended Friday through Monday as data was combined. He reminded customers who received a new debit card in the mail to activate it as soon as possible, as the Tower cards were no longer linked to accounts.
The larger banking system has been restructured. Susquehanna is divided into 12 regions with Franklin County and Washington County, Md. in the same one. The 22 branches provide more locations for customers than was available in the past, as Susquehanna had 16 before, and Tower had nine.
“We are echoing the community banking nature of both systems,” said Trapnell. “We have a neat combination of leadership. R.L. Fisher from the Susquehanna side is president of the region. Kim Shockey from the Tower side is retail executive over the branches. Jeff Shank from Tower is relationship manager.”
Some employees changed jobs in the merge, and 16 local people were laid off. Those announcements were made in December. Their last days were staggered, effective Feb. 17, March 9 and March 16.
Susquehanna Bank at 35 N. Carlisle St. will remain open until the new location, Tower’s former site at 40 Center Square, is renovated and additional drive-thru lanes are completed in May or June. Then the old branch building will be sold.
Trapnell said the history of community support from both banks would continue, as Susquehanna had already pledged $25,000 to the school district for renovations, and $15,000 to Besore Memorial Library for its capital campaign.
Susquehanna Bancshares, Inc. is headquartered in Lititz. The regional financial services holding company has assets of $17.5 billion. It is now Pennsylvania’s largest community bank, and has 261 offices in the mid-Atlantic area.