Harleysville National Bank receives approval to acquire Willow Financial

Oct 06, 2008 (Datamonitor via COMTEX) -- WFBC | Quote | Chart | News | PowerRating -- The Harleysville National Bank and Trust Company, the wholly owned subsidiary of Harleysville National Corporation, has announced that its wholly owned subsidiary, has received approval from the Office of the Comptroller of the Currency to acquire Willow Financial Bank, the wholly owned subsidiary of Willow Financial Bancorp, through the merger of Willow Financial Bank with and into the bank.

The Office of Thrift Supervision has also not objected to the transaction. Harleysville expects to close the transaction by early December 2008.

Harleysville expects to receive the approvals from the Federal Reserve Board and the Pennsylvania Department of Banking by the end of October 2008 to acquire Willow Financial Bancorp in a previously announced transaction.

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