{"id":863497,"date":"2025-06-25T06:51:28","date_gmt":"2025-06-25T10:51:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/santander-bank-announces-agreement-to-sell-seven-branches-to-community-bank-n-a\/"},"modified":"2025-06-25T06:51:28","modified_gmt":"2025-06-25T10:51:28","slug":"santander-bank-announces-agreement-to-sell-seven-branches-to-community-bank-n-a","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/santander-bank-announces-agreement-to-sell-seven-branches-to-community-bank-n-a\/","title":{"rendered":"Santander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A."},"content":{"rendered":"

<\/p>\n

\nSantander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A.<\/p>\n

BOSTON–(BUSINESS WIRE<\/a>)–
\nSantander Bank, N.A. (\u201cSantander Bank\u201d or \u201cSantander\u201d) today announced that it has entered into an agreement with Community Bank, N.A. (\u201cCommunity Bank\u201d), a subsidiary of Community Financial System, Inc., for the sale of seven branches in the Allentown, Pennsylvania, area. The branches are located in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall.<\/p>\n

\nThe agreement comes as Santander Bank continues to transform into a national, digital-first bank with branches. Santander launched Openbank in the U.S. market in late 2024 with a high yield savings account offering that is now available nationwide. Since its U.S. debut, Openbank has generated more than $4 billion in deposits and serves more than 100,000 customers, as of May 2025. Santander also unveiled last month its first Openbank-branded physical location in the United States at the Miami Worldcenter. Openbank accounts are not included in this transaction with Community Bank.<\/p>\n

\n\u201cAs we grow our presence nationally, we are making refinements to our physical presence to reposition and optimize our footprint for the future,\u201d said Swati Bhatia, Head of Retail Banking & Transformation for Santander Bank and CEO for Openbank in the United States. \u201cWe are investing in our branches, introducing new state-of-the art formats such as our new flagship model. The investments we are making in both digital and physical will help ensure Santander is best positioned to deliver for our customers for years to come.\u201d<\/p>\n

\nCommunity Bank is among the country\u2019s 100 largest banking institutions with over $16 billion in assets and operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts.<\/p>\n

\n\u201cCommunity Bank is a highly rated bank, known for its top-caliber customer service,\u201d Bhatia said. \u201cWe enter into this agreement knowing that our valued, long-standing customers will be well taken care of, as we continue our transformation in the United States.\u201d<\/p>\n

\nCommunity Bank has been recognized in recent years as one of America\u2019s Most Trustworthy Companies by Newsweek Magazine in 2023, and in 2024, its parent company, Community Financial System, Inc., was recognized as one of America\u2019s Best Banks for the 16th year in a row and as one of the World\u2019s Best Banks by Forbes Magazine.<\/p>\n

\nThe transaction is subject to regulatory approval and satisfaction of customary closing conditions. Santander Bank will communicate with impacted customers, as it works to ensure a smooth transition. Nothing will be required of them at this time. The transaction is expected to close in the fourth quarter of 2025. Reed Smith served as legal advisor to Santander Bank in this transaction.<\/p>\n

About Santander Bank, N.A<\/span><\/b><\/p>\n

\nSantander Bank, N.A. is one of the country\u2019s leading retail and commercial banks, with $102 billion in assets as of December 31, 2024. With its corporate offices in Boston, the Bank\u2019s more than 4,400 employees and more than 1.8 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware, and Florida. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN), recognized as one of the world\u2019s most admired companies by Fortune Magazine in 2024, with approximately 175 million customers in the U.S., Europe, and Latin America. It is overseen by Santander Holdings USA, Inc., Banco Santander\u2019s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com<\/a>.<\/p>\n

\nOpenbank in the United States is a division of Santander Bank, N.A., which is a Member of FDIC and a wholly owned subsidiary of Banco Santander, S.A. \u00a9 2025 Santander Bank, N.A. All rights reserved. Santander, Santander Bank, Openbank, and the Flame Logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners. For more information on Openbank in the United States, please visit www.openbank.us<\/a>.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250625204793\/en\/<\/a><\/span><\/p>\n

\nAndrew Simonelli
\n
andrew.simonelli@santander.us<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Santander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A. BOSTON–(BUSINESS WIRE)– Santander Bank, N.A. (\u201cSantander Bank\u201d or \u201cSantander\u201d) today announced that it has entered into an agreement with Community Bank, N.A. (\u201cCommunity Bank\u201d), a subsidiary of Community Financial System, Inc., for the sale of seven branches in the Allentown, Pennsylvania, area. The branches are located in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall. The agreement comes as Santander Bank continues to transform into a national, digital-first bank with branches. Santander launched Openbank in the U.S. market in late 2024 with a high yield savings account offering that is now available nationwide. Since its U.S. debut, Openbank has generated more than $4 billion in deposits and serves more … <\/p>\n

Continue reading “Santander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-863497","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSantander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/santander-bank-announces-agreement-to-sell-seven-branches-to-community-bank-n-a\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Santander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Santander Bank Announces Agreement to Sell Seven Branches to Community Bank, N.A. BOSTON–(BUSINESS WIRE)– Santander Bank, N.A. (\u201cSantander Bank\u201d or \u201cSantander\u201d) today announced that it has entered into an agreement with Community Bank, N.A. (\u201cCommunity Bank\u201d), a subsidiary of Community Financial System, Inc., for the sale of seven branches in the Allentown, Pennsylvania, area. The branches are located in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall. The agreement comes as Santander Bank continues to transform into a national, digital-first bank with branches. Santander launched Openbank in the U.S. market in late 2024 with a high yield savings account offering that is now available nationwide. 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