Alma Bank, American Community Bancorp, Inc. and American Community Bank have entered into a definitive Agreement and Plan of Merger pursuant to which Alma Bank will acquire American Community Bank. Upon completion, American Community Bank will merge into Alma Bank, with Alma Bank continuing as the surviving institution.
The combined bank is expected to have approximately $2.0 billion in total assets and approximately 21 banking offices across the New York metropolitan area. Financial terms were not disclosed. The combined organization will establish a significant presence along the Queens and Long Island corridor, complemented by locations across Manhattan, Brooklyn, the Bronx, and Northern New Jersey.
Following completion, Michael P. Psyllos will continue to serve as President and CEO of Alma Bank. Anthony Capobianco is expected to join Alma Bank as Senior Executive Vice President and a member of its Board of Directors, and Aldo Verrelli, Chairman of American Community Bancorp, is also expected to join the board. The transaction is expected to close in the first quarter of 2027, subject to regulatory, corporate, and shareholder approvals.
Keefe, Bruyette & Woods, Inc. is serving as financial advisor and Hunton Andrews Kurth LLP as legal counsel to Alma Bank. Piper Sandler & Co. is serving as financial advisor and Kilpatrick Townsend & Stockton as legal counsel to American Community Bancorp.
KEY QUOTES:
“This partnership is grounded in a shared belief that banking is, first and foremost, about people. American Community Bank has built a respected franchise by earning the trust of its clients, supporting its employees and remaining deeply connected to the communities it serves. We are investing in people, technology and communities, not simply combining assets.”
Michael P. Psyllos, President and CEO, Alma Bank
“This combination represents an exciting opportunity for our clients, employees and communities. Alma Bank shares our commitment to relationship banking, local decision-making and best-in-class service. Our clients will continue to work with the bankers they know and trust while gaining access to a broader branch network, enhanced digital capabilities, greater lending capacity and a more comprehensive suite of financial solutions.”
Anthony Capobianco, President and CEO, American Community Bank
