Standard Bank and AVB Merger of Equals
We have some very exciting news to share! Standard Bank has officially completed a merger of equals with fellow community bank, Allegheny Valley Bank. We’ve worked hard to put the best of both banks together for the benefit of our customers, communities, businesses, shareholders, and employees.
Why did we merge? We’re better together!
Both Standard Bank and Allegheny Valley Bank are strong, healthy community banks. We could have continued to go forward on our own—but we are better and stronger together. Our two institutions share similar attributes and values, including the same vision, dedication to unparalleled customer service, and commitment to community. Standard Bank and Allegheny Valley Bank were both established over 100 years ago in Western Pennsylvania. We expanded south and east, Allegheny Valley Bank expanded north and west with nine locations throughout the greater Pittsburgh area.
Mergers often come with a negative connotation, but not in this case! BOTH banks are strong and financially secure, which means our merger will provide all of our customers with many advantages including:
- A larger service area with more community banking office locations (available to you in August 2017)
- Enhanced lending opportunities in the communities we serve
- Continued access to local decision makers ensuring we deliver the solutions that are right for you
- More opportunities and money to reinvest back into the communities we serve
- A broader array of products and services
Will I see changes to my account?
We can assure you that the associates from BOTH banks are working diligently to make the conversion process transparent to you, our top priority. You will continue to see the same faces and receive the same high level of customer service. There is nothing you need to do or be worried about. Your account numbers will NOT be changing. You do NOT need to order new checks or a new debit card or worry about any direct deposits. We anticipate integrating Allegheny Valley Bank’s customers into our system in mid-August. After integration, you will be able to bank at all of the combined community banking locations throughout the Pittsburgh region. For now, you will start to notice some branding changes including a modernized, combined version of the logos. The name “Standard Bank” will remain the same.
I have a question, who can I talk with?
You are very important to us and we look forward to continuing our commitment to you in the years to come. We are happy to answer any questions or concerns you may have. The best place to call or visit is your local Standard Bank office. Our associates are well-educated on the merger and will strive to answer your questions as completely as possible. In addition, you will receive communications from us as we move through our transition this summer.
We are excited to continue our mission of community banking and are grateful you chose to support your local economy by banking with the area’s best community bank. Thank you!
Timothy K. Zimmerman
Chief Executive Officer, Standard Bank