Business & Tech

Abington Bank to merge with Avon Co-operative Bank

Abington Bank said on Thursday that it will merge with Avon Co-operative Bank, the second deal in the past year for the small Abington lender.

Abington Bank, with $242 million in assets, and Avon Co-operative, with $88 million in assets, are both co-operative banks, meaning that they are owned by their customers.

The banks expect the merger to be completed this year, pending regulatory approval. The combined bank will formally be called Abington Bank, though Avon Co-operative will continue to use its name.