Published by Global Banking & Finance Review®
Posted on June 25, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleSantander sells seven Pennsylvania branches to Community Bank, aligning with its digital-first US strategy. The deal includes a $48 million deposit premium.
(Reuters) -Santander said on Wednesday it had agreed to sell seven branches in the Allentown, Pennsylvania area to U.S.-based Community Bank as the Spanish lender pivots towards becoming a digital-first bank in the United States.
Santander launched Openbank in the U.S. market late last year with a high-yield savings account offering, and aims to have a full-service digital bank in the country by the end of 2025.
In a separate statement, Community Bank said it will pay Santander a deposit premium of $48 million for assets and liabilities of the branches.
The New York-based lender said it expects to assume about $600 million in deposits and purchase nearly $33 million in branch-related loans.
The transaction is expected to close in the fourth quarter of 2025.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Leroy Leo)
Santander is pivoting towards becoming a digital-first bank, which is why it has agreed to sell seven branches in Pennsylvania.
Community Bank will pay Santander a deposit premium of $48 million for the assets and liabilities of the branches.
The transaction is expected to close in the fourth quarter of 2025.
Santander launched Openbank in the U.S. market and aims to have a full-service digital bank in the country by the end of 2025.
Community Bank expects to assume about $600 million in deposits and purchase nearly $33 million in branch-related loans.
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