Tompkins gets approval for acquisition
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- April
- 23
Tompkins Financial Corp. of Ithaca said this morning it has gotten all the regulatory and shareholder approvals it needs for its purchase of Sleepy Hollow Bancorp Inc.
Tompkins, the parent company of Mahopac National Bank, announced last November it agreed to pay $30.2 million in cash for the parent of Sleepy Hollow Bank. The deal is expected to be completed May 7.
The five Sleepy Hollow Bank branches will be known as the Sleepy Hollow Division of Mahopac National Bank. Customer accounts will be transferred May 9, giving the combined Mahopac National Bank $750 million in assets, 14 branches and one limited service office in Westchester, Putnam and Dutchess counties.
This entry was posted
on Wednesday, April 23rd, 2008 at 10:12 am by Allan Drury.
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