BUTLER, Pa.--(BUSINESS WIRE)--NexTier, Inc., (“NexTier”) the parent company of NexTier Bank, announced today the completion of the merger of Eureka Financial Corp. (“Eureka”) with and into NexTier and the merger of Eureka’s wholly owned subsidiary, Eureka Bank with and into NexTier Bank, effective January 8, 2016.
NexTier Bank offers Western Pennsylvania businesses and consumers a comprehensive line of products and services, 26 convenient locations, and a focus on premium customer service. The combined organization will continue the commitment to community that both organizations have made a priority for well over a century.
Mark Karenchak, the current Chairman of the Board of NexTier Bank will continue in this role. Richard J. Krauland, the President and CEO of NexTier Bank will continue to serve as the President and CEO of the combined entity. Edward F. Seserko, current President and CEO of Eureka Bank will join Mr. Krauland as a member of the NexTier Bank Board of Directors. The leadership team of the combined bank will include Robert A. Bowell, Executive Vice President and Chief Lending Officer, Gregory R. Schultz, Senior Vice President and Chief Credit Officer, Tito Lima, Executive Vice President and Chief Financial Officer, Clem C. Rosenberger, Senior Vice President and Chief Operations Officer, Mark S. Schoen, Senior Vice President and Chief Risk Officer, Maria W. Smathers, Senior Vice President, Sales and Marketing, Brian B. Dutton, Chief Legal Counsel, and Darla J. Livermore, Director of Human Resource Management.
The merger of Eureka into NexTier enhances NexTier’s geographic footprint. “This strategic combination strengthens our presence in the Allegheny County market,” stated CEO, Rich Krauland. “We can offer Eureka customers a more robust deposit product line, technological advances such as tablet banking, enhanced consumer and commercial lending products, Investment services through NexTier Wealth Management1, and Commercial and Personal Insurance through ESS NexTier Insurance Services2.”
“Our customers can benefit from greater convenience, more choices, and better value,” continued Krauland. “Our communities can benefit because we want to be a leading contributor in every community in which we do business.”
About NexTier
NexTier Inc. has assets of $1.15 billion and serves the western Pennsylvania region with corporate headquarters in Kittanning. NexTier, Inc. includes NexTier Bank, ESS NexTier Insurance Services and NexTier Wealth Management. NexTier Bank has 26 community offices throughout Allegheny, Armstrong and Butler counties. www.nextierbank.com
1Securities offered through LPL Financial, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. NexTier Bank and NexTier Wealth Management are not registered brokers/dealers and are not affiliated with LPL Financial.
| Not FDIC Insured | No Bank Guarantee |
May Lose Value |
||||
| Not a Deposit |
Not Insured by any Federal Government Agency |
|||||
2Insurance products are not guaranteed by the Bank. Not FDIC insured. Not a deposit. Not insured by any Federal Government Agency. May lose value including loss of principal.
