Alma Bank has made a commitment to the purchase of American Community Bank, resulting in a merger of two community banks with over $2 billion in assets and 21 branches located throughout the New York metropolitan area. This merger is going to allow the bank’s operations to extend further into Queens, Long Island Manhattan Brooklyn, the Bronx, and Northern New Jersey. Alongside that, this bank is going to be more than able to provide lending, treasury and cash management services, a range of products in wealth management, and various digital banking capabilities as an integrated solution. Once the transaction is completed, American Community Bank will become part of Alma Bank, and the two organizations together will retain the Alma Bank name.
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“This partnership is grounded in a shared belief that banking is, first and foremost, about people,” said Michael P. Psyllos, President and Chief Executive Officer of Alma Bank. “American Community Bank has built a respected franchise by earning the trust of its clients, supporting its employees and remaining deeply connected to the communities it serves. Those values closely reflect our own and will continue to guide us as we bring our organizations together.” The merger is expected to close in the first quarter of 2027, subject to regulatory, corporate, and shareholder approvals.
