Tompkins Financial Corp.’s merger with VIST Financial Corp. is set to close Aug. 1, with shareholders from each bank giving their approvals at separate meetings this week, officials announced Thursday.
Shareholders of Wyomissing, Pa.-based VIST approved the deal Tuesday, officials said. Those at Ithaca-based Tompkins gave their approval Wednesday.
The merger has the necessary approvals from regulatory authorities and agencies.
VIST Financial Corp. stockholders are to receive 0.3127 shares of Tompkins common stock for each share of VIST stock. The combined companies will have assets of $5 billion, deposits of $3.8 billion and loans of $2.9 billion at 67 offices, officials said.
VIST will operate as a community bank subsidiary with local leadership, officials said.
Tompkins Financial is the parent of the Bank of Castile, Batavia-based Tompkins Insurance Agencies Inc. and Tompkins Financial Advisors in the Rochester market.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email email@example.com.