PITTSBURGH and MONROEVILLE, Pa., June
1, 2021 /PRNewswire/ -- Dollar Mutual Bancorp ("Dollar") and
Standard AVB Financial Corp. ("Standard") (NASDAQ: STND) jointly
announced the completion of the previously announced merger of the
financial institutions.
Dollar Mutual Bancorp and Standard AVB Financial Corp. Announce
Completion of Merger
Effective close of business on May 28,
2021, Standard became a wholly-owned subsidiary under the
Dollar Mutual Bancorp, with Jim
McQuade as the CEO, Andrew
Hasley continuing as President, and with all current
management and associates remaining in place.
"We are ecstatic to announce the completion of this merger and
welcome Standard Bank into the Dollar family," said Jim McQuade, President and CEO of Dollar. "This
merger allows us to expand our footprint in the region and align
with bankers who share our commitment to the customers and
communities we serve."
"We are excited to join the Dollar Bank Family. Standard Bank is
now poised to deliver enhanced products and services to our
customers, all while continuing to remain dedicated to our hallmark
community banking philosophy and philanthropy," said Andrew W. Hasley, Standard Bank
President.
Mr. McQuade added, "Dollar Bank believes in mutuality and not
having shareholders allows us to focus solely on our customers and
the communities we serve. We want to make sure that mutual banks
remain an option in our local neighborhoods to provide resources
for our small businesses, foster long-term customer relationships,
and develop our communities."
About Dollar Mutual Bancorp
Headquartered in Pittsburgh,
Pennsylvania, Dollar Mutual Bancorp, with total assets of
$11.5 billion, is the mutual holding
company of Dollar Bank, Federal Savings Bank. Today, Dollar
Mutual Bancorp operates 98 locations throughout Pennsylvania, Ohio, Virginia, and Maryland and has 1,553
employees. Operating for over 166 years, Dollar Bank has
grown to become the largest community bank in the country,
committed to providing the highest quality of banking services to
individuals and businesses. Dollar Bank (Dollar.Bank) is
headquartered in Pittsburgh,
Pennsylvania.
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SOURCE Dollar Mutual Bancorp