Riverside Bank of Dublin no longer exists as an independent institution after Pennsylvania-based NexTier Bank completed a legal merger effective Aug. 31.
The deal folds Riverside's roughly $270 million in assets, as reported on March 31, into NexTier, a community bank headquartered in Butler, Pa. The combined NexTier Bank now reports $3.2 billion in total assets, $2.5 billion in loans and $2.8 billion in deposits as of Sept. 1, according to a Dublin Chamber of Commerce posting of the bank's announcement. NexTier operates 34 offices across Pennsylvania, New York and Ohio.
For Dublin customers, the biggest near-term change arrives in November, when NexTier plans to complete the operational merger. That conversion will shift Riverside accounts onto NexTier's systems.
Both boards unanimously approved the agreement, announced May 8.
"We have all the products to serve your banking needs, delivered by the same customer service and lending staff you have come to enjoy at Riverside," NexTier President and CEO Clem Rosenberger said in the announcement.
Rosenberger said many Riverside team members have remained with the combined organization. NexTier said it plans to bring new products to the Columbus market, including treasury management services for commercial and industrial small businesses and construction mortgages for new homes.
Sanders said in the May 8 merger announcement that NexTier had been lending in the Columbus area for more than a decade before the deal. That pre-existing relationship helped shape the merger, which both boards unanimously approved in May.
NexTier, established in 1897, now stretches from its western Pennsylvania base into central Ohio. Riverside had operated for about five years before the combination and held approximately $239 million in deposits as of March 31.
Riverside’s Bridge Park branch, announced ahead of the merger, is now open at 4548 Bridge Park Ave.
The November operational conversion is the next milestone for Dublin account holders.
