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Article: Pa. Bank's Trust Company Deal Puts It Nearer $1B-Asset Goal.(Community Banks Inc., Pennsylvania purchases Sentry Trust Co.)
- Article from:
- American Banker
- Article date:
- June 23, 2006
- Author:
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Community Banks Inc. wants to significantly expand the trust and wealth management services in its Pennsylvania footprint as it looks to eclipse $1 billion of assets under management.
The Harrisburg, Pa., bank holding company said it expects to more than double its $300 million of assets under management once it closes the deal announced this week for Sentry Trust Co. The Chambersburg, Pa., trust company has $350 million under management and would be merged into the trust and asset management division of CommunityBanks, the holding company's bank subsidiary.
Anthony N. Leo, a divisional executive vice president at Community Banks Inc., said in an ...