Univest Corp. of Pa. has agreed to acquire 148-year-old Fox Chase Bancorp in a cash and stock deal worth $244.3 million.
The transaction, set to close in third quarter 2016, will make the Souderton-based bank the ninth-largest deposit taker in the Philadelphia region and continues a wave of consolidation that has hit the local banking community this year.
Hatboro-based Fox Chase, which had $1.1 billion in assets, $740 million in loans, and $718 million in deposits as of September 30, had been rumored to be on the block for at least a year.
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