LinkBancorp is selling its newly acquired operations in South Jersey for an after-tax gain of about $10.5 million, according to LinkBancorp CEO Andrew Samuel. The
Harrisburg University of Science and Technology failed to make a monthly loan payment on May 1 in default of its loan agreement, according to a disclosure last week to its bondholders.Under the agreement, monthly payments to the bond trustee roll up into semiannual payments on interest and principal on the university’s bonds.Those semiannual payments are still being […]
Fulton Bank was on the receiving end on the afternoon of April 26 when state regulators shut down and brokered a sale of Republic First Bank, a troubled Philadelphia-based lender that does business as Republic Bank. As a result, Fulton has acquired most of the assets and branches of Republic First, expanding the Lancaster bank’s footprint in the competitive […]
York County commissioners last week approved the county’s participation in a program that offers specialized financing tools for clean-energy and energy-efficiency projects. The program, offered in partnership with Schnecksville-based Sustainable Energy Fund, is called the Commercial Property Assessed Clean Energy program, or C-PACE.How does it work: Commercial and nonprofit property owners tap the program to secure private-sector […]
The chief banking subsidiary of Chambersburg-based Franklin Financial Services has broken ground on a new branch at 4765 Linglestown Road in Lower Paxton Township.It will be F&M Trust‘s first free-standing, full-service branch in Dauphin County. “It’s a natural progression of our growth and activity in the capital region, specifically Dauphin County,” F&M Trust president and CEO Tim Henry said […]
Pennsylvania officials are tapping an Allentown-based lender to operate a statewide program funneling money to homeowners who want to make their homes more energy efficient.The program, called the Keystone Energy Efficiency Program, could provide up to $10 million in loans to eligible homeowners in amounts ranging from $2,000 to $25,000.The amounts are generally too high […]
A private equity-backed holding company is buying a majority stake in Harrisburg’s minor league baseball team from the family of the late Mark Butler, a co-founder of Harrisburg-based discount retailer Ollie’s Bargain Outlet Holdings. Butler, who died in 2019, bought a majority interest in the Harrisburg Senators in 2014. That stake is now being sold to Diamond Baseball […]
R.F. Fager Co., a West Shore distributor of plumbing, heating, roofing and other supplies, has a new partner.New York-based private equity firm Tenex Capital Management has made an undisclosed investment in the company. Efforts to reach R.F. Fager and Tenex were not successful, But in a statement to trade publication PE Hub, Tenex managing director Gabe Wood said, […]
New York-based private equity firm Broad Sky Partners has snapped up Punctual Pros, a regional franchisee for three high-profile consumer-facing brands.Based in East Hempfield Township, Lancaster County, Punctual Pros serves customers across Central Pennsylvania as an operator of One Hour Heating & Air Conditioning, Benjamin Franklin Plumbing and Mister Sparky Electrical franchises.The company is hoping to expand its footprint through acquisitions, said company […]
Rising interest rates and record inflation stifled mergers and acquisitions last year, leading to an 18% drop in activity compared to 2022 for Central and southeastern Pennsylvania, according to a report this week by accounting and professional services RKL LLP.Lancaster and the capital area bucked the regional decline, which reflected the national scene. Nonetheless, M&A activity […]
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