A court order is paving the way for Ollie’s Bargain Outlet Holdings Inc. to purchase 11 stores in Texas from discount retailer 99 Cents Only Stores, which
In January 2019, Roxanna Gapstur became president and CEO of WellSpan Health, one of the largest employers in Central Pennsylvania.In little over a year after her first day on the job, she was guiding the health system through one of its most visible challenges, the Covid-19 pandemic.The pandemic has subsided. But WellSpan and other health […]
Lancaster County-based Bank of Bird-in-Hand is seeking shareholder and regulatory approval to form a holding company, a common step for banks as they grow. The holding company would be called GELT Bancorp Inc., incorporating the Amish word for money. The bank also uses the word for its mobile branches, called Gelt buses.Existing bank shareholders would become shareholders in […]
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 buyer is Philadelphia-based American Heritage Federal Credit Union, which has more than 310,000 members and assets of more than $4.8 billion.Expected to close in the second quarter of this year, 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 […]
A buyer with a growing portfolio of Pennsylvania shopping centers has added another one.A partnership led by Leo Ullman of New York-based retail developer Vastgood Properties paid $6.63 million at the end of April for Shippensburg Marketplace, according to Brad Rohrbaugh, executive vice president and retail director for York-based Bennett Williams Commercial.Rohrbaugh and Bennett Williams […]
Building products manufacturer Carlisle Companies is planning a $45 million expansion of its research and innovation hub in Carlisle. The project will entail construction of a 42,000 square-foot building alongside the company’s existing R&D center, which is at 1557 Ritner Highway, according to Carlisle Companies spokesperson Mehul Patel. The site is near the headquarters and […]
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 […]
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 […]
Over the last few weeks, real estate agents have begun bracing for the end of a common practice in home sales.It’s not the 6% commission, which agents argue is something of a misconception. It is the ability to signal that a homebuyer’s agent will be paid from the proceeds of a sale along with the […]
Central PA’s Source for Business News Online.