Dinsmore & Shohl LLP Advises on Two Bank Mergers
January, 2025 - Louisville, Kentucky
A Dinsmore Corporate team led by partners Christian Gonzalez and Michael Dailey recently advised on two significant bank merger transactions.
In the first transaction, Dinsmore served as counsel to Northwest Bancshares, Inc., in its agreement to acquire Penns Woods Bancorp, Inc. As a result of the transaction, Northwest’s total assets will increase from approximately $14.4 billion to over $17 billion. After closing, Northwest is expected to be one of the top 100 banks in the United States. The merger is expected to be completed in Q3 2025.
In the second transaction, Dinsmore acted as seller’s counsel to CenterGroup Financial, Inc. in its acquisition by First Commonwealth Financial Corporation. The transaction will strategically strengthen First Commonwealth’s market position in the Cincinnati area and provide for greater investment liquidity to the CenterGroup Financial shareholders. The transaction is expected to be completed in the first half of 2025.
Dinsmore’s Corporate and Financial Services teams are respected partners to banks and financial institutions on mergers and acquisitions, guiding clients through complex regulatory, corporate and securities issues under state and federal laws. Our team advises on deal structuring, due diligence, negotiations, regulatory approvals and post-merger integration. Clients count on us to navigate bank formations, holding company reorganizations, capital raises and compliance matters critical to successful M&A transactions.
