LONG ISLAND CITY, N.Y. and GLEN COVE, N.Y., July 30, 2026 /PRNewswire/ -- Alma Bank, American Community Bancorp, Inc. and American Community Bank jointly announced today that they have entered into a definitive Agreement and Plan of Merger pursuant to which Alma Bank will acquire American Community Bank.

The transaction will bring together two privately held community banks with complementary markets, closely aligned cultures and a shared commitment to relationship banking, local decision-making and exceptional client service.

Upon completion of the transaction, American Community Bank will merge with and into Alma Bank, with Alma Bank continuing as the surviving institution. The combined bank is expected to have approximately $2.0 billion in total assets and approximately 21 banking offices, consisting of 19 full-service branches and two additional banking offices across the New York metropolitan area. Financial terms of the transaction were not disclosed.

The combined organization will establish a significant presence along the attractive Queens and Long Island corridor, complemented by locations across Manhattan, Brooklyn, the Bronx and Northern New Jersey. Clients will benefit from greater convenience, expanded market coverage and access to a broader range of financial solutions while continuing to receive the personal attention and local expertise that distinguish both institutions.

Together, Alma Bank and American Community Bank will offer greater lending capacity, enhanced treasury and cash management services, access to local wealth management and financial advisory professionals, and continued investment in digital banking technology. The combined institution will have the scale and resources to support individuals and families, closely held businesses, real estate investors, professionals, municipalities and commercial enterprises with increasingly sophisticated financial needs.

"This partnership is grounded in a shared belief that banking is, first and foremost, about people," said Michael P. Psyllos, President and Chief Executive Officer of Alma Bank. "American Community Bank has built a respected franchise by earning the trust of its clients, supporting its employees and remaining deeply connected to the communities it serves. Those values closely reflect our own and will continue to guide us as we bring our organizations together."

"We have an opportunity to create something truly special: a stronger, more capable community bank that preserves the personal relationships, accessibility and local decision-making our clients value while providing the broader resources they need to grow. We are investing in people, technology and communities, not simply combining assets. Together, we will build a bank that is larger in scale, broader in reach and even more personal in the way it serves."

"We approach this next chapter with great respect for what American Community Bank and its team have accomplished. Our commitment is to bring out the best in both organizations, create meaningful opportunities for our employees and deliver an exceptional experience for every client we are privileged to serve."

Anthony Capobianco, President and Chief Executive Officer of American Community Bank, added:

"This combination represents an exciting opportunity for our clients, employees and communities. Alma Bank shares our commitment to relationship banking, local decision-making and best-in-class service. The strong cultural alignment between our organizations makes this a natural next chapter for both institutions."

"Our clients will continue to work with the bankers they know and trust while gaining access to a broader branch network, enhanced digital capabilities, greater lending capacity and a more comprehensive suite of financial solutions. Most importantly, the values that have guided our organization will remain central to the combined bank."

The Boards of Directors of Alma Bank and American Community Bank have approved the merger agreement.

The transaction is expected to close in the first quarter of 2027, subject to the receipt of all required regulatory, corporate and shareholder approvals and the satisfaction or waiver of other customary closing conditions.

Following the completion of the transaction, Michael P. Psyllos will continue to serve as President and Chief Executive Officer of Alma Bank. At the effective time of the merger, Anthony Capobianco is expected to join Alma Bank as Senior Executive Vice President and become a member of its Board of Directors. Aldo Verrelli, Chairman of American Community Bancorp, Inc., is also expected to join Alma Bank's Board of Directors. These appointments are subject to applicable regulatory and corporate approvals. Mr. Capobianco will help facilitate a seamless integration, maintain continuity for American Community Bank's clients and employees, and support the continued growth of the combined franchise.

Until the transaction is completed, Alma Bank and American Community Bank will continue to operate as separate, independently managed institutions. Clients should continue to conduct their banking activities as usual through their existing banking offices, relationship managers and established service channels.

About Alma Bank

Alma Bank is a privately held, New York State-chartered community bank headquartered in Long Island City, New York. With approximately $1.6 billion in total assets and 13 full-service branches across the New York metropolitan area, the Bank provides personalized financial solutions to individuals, families, businesses, professionals, municipalities, real estate investors and commercial clients.

For additional information, visit www.almabank.com.

About American Community Bank

American Community Bank is a privately held community bank headquartered in Glen Cove, New York. With more than $300 million in total assets and six full-service branches across Long Island, the Bank provides personalized financial solutions, responsive local decision-making and relationship-focused service to individuals, families, professionals and businesses throughout the communities it serves.

For additional information, visit www.acbalways.com.

Transaction Advisors

Keefe, Bruyette & Woods, Inc. is serving as financial advisor and Hunton Andrews Kurth LLP is serving as legal counsel to Alma Bank. Piper Sandler & Co. is serving as financial advisor and Kilpatrick Townsend & Stockton is serving as legal counsel to American Community Bancorp, Inc.

Forward-Looking Statements

This press release contains forward-looking statements concerning the proposed transaction between Alma Bank, American Community Bancorp, Inc. and American Community Bank, including statements regarding the anticipated timing and completion of the transaction, the expected benefits of the combination, integration plans, leadership arrangements and the future operations of the combined institution.

Forward-looking statements are based on current expectations, estimates and assumptions and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These factors include, among others, the possibility that required regulatory, corporate or shareholder approvals may not be obtained or may be delayed; the possibility that other closing conditions may not be satisfied; challenges associated with integrating the two organizations; changes in economic, market, competitive, interest rate or regulatory conditions; and other risks affecting the parties or the proposed transaction.

Neither Alma Bank, American Community Bancorp, Inc. nor American Community Bank undertakes any obligation to update or revise any forward-looking statement except as required by applicable law.

Media Contact

Alma Bank Corporate Communications
press@almabank.com 
www.almabank.com 

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SOURCE Alma Bank