Allentown
50° F
Overcast
Overcast
 

NY company announces plans to acquire locally based bank

By Kevin Fitzsimmons, Web Producer
Published On: Jan 25 2012 06:00:00 PM CST
Updated On: Jan 26 2012 05:16:34 PM CST

A financial company from New York plans to acquire Berks County-based VIST Financial.

NEW YORK -

A financial company from New York plans to acquire Berks County-based VIST Financial.

Tompkins Financial Corporation said it's agreed to buy VIST for $86 million.

Officials said VIST will operate as a subsidiary of Tompkins, and VIST's CEO, Robert Davis, will remain in place.

Bank officials said they expect the deal to close later this year, but it still needs to be approved by regulators and shareholders.