Tompkins Financial Corp., parent of the Bank of Castile in the Rochester market, has closed on its acquisition of VIST Financial Corp., the Ithaca-based company said.
VIST Bank, headquartered in Wyomissing, Pa., will operate as a subsidiary with local management and board members, representatives of Tompkins said in a statement released late Wednesday afternoon.
As part of the completion of the transaction, Tompkins has repaid VIST’s $25 million in outstanding preferred stock and U.S. Treasury warrants held under the Troubled Asset Relief Program’s capital purchase program, representatives said.
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