Santander Sells Seven PA Branches to Community Bank

Santander Bank has agreed to sell seven branches in the Allentown, Pennsylvania area to Community Bank, N.A. in a $48 million deal that includes approximately $600 million in deposits and $33 million in loans. All affected Santander employees will be offered continued employment, and accounts from Santander's digital platform, Openbank, are not included in the transaction. This deal is part of Santander's ongoing strategy to reduce its physical footprint and expand its digital offerings, with Openbank amassing over $4 billion in deposits since its late 2024 U.S. launch. Community Bank, which operates about 200 locations, will expand its Greater Lehigh Valley presence to 12 branches, placing it among the region's top five banks. The sale is expected to close in the fourth quarter of 2025, pending regulatory approval, and is anticipated to be slightly accretive to Community Bank’s earnings. Impacted Santander customers will be contacted to ensure a smooth transition.