January 6th, 2017 by WCBC Radio

Standard Financial Corp. and Allegheny Valley Bancorp recently  signed a definitive merger agreement. The stock transaction is estimated at $56.5 million and is expected to close in the first quarter of 2017. The deal will create a $1 billion, 18-branch community bank that will operate under the Standard name and operate in western Pennsylvania and Maryland. The holding company will be rebranded as Standard AVB Financial Corp. The combined bank will have total loans of $666 million, $674 million in deposits, and will service more than 50,000 deposit and loan accounts through 18 branches in Allegheny, Bedford, and Westmoreland Counties in Pennsylvania and Allegany County in Maryland.