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Bulletin: Susquehanna Bancshares Inc. Rating Unaffected By Planned Acquisition Of Tower Bancorp Inc. Jun 11
Standard & Poors, June 2011
Abstract
NEW YORK (Standard & Poor's) June 21, 2011--Standard & Poor's Ratings Services said today that its ratings on Susquehanna Bancshares Inc. (BBB-/Stable/--) are not affected by Susquehanna's planned acquisition of Tower Bancorp Inc. (not rated). Tower is a $2.6 billion financial holding company operating in central and southeastern Pennsylvania and Maryland through its primary subsidiary, Graystone Tower Bank. Susquehanna will fund the $345 million deal with 75% stock and 25% cash. The transaction, combined with the pending third-quarter acquisition of Abington Bancorp, will make Susquehanna a $17.8 billion organization with approximately 270 branches in Pennsylvania, Maryland, New Jersey, and West Virginia. The acquisitions will improve Susquehanna's market position, moving its pro forma deposit market share in its home state of...
Companies mentioned in this report are: Susquehanna Bancshares Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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