Santander selling seven Pennsylvania branches to the community bank

(Reuters)-Santander said on Wednesday that she had approved the sale of seven branches in the Al-Antown region of Pennsylvania to the US-based community bank as a Spanish lender towards becoming a digital bank in the United States.

OpenBank was launched in the United States market late last year with a high -yielding savings account, and aims to obtain a full digital bank in the country by the end of 2025.

In a separate statement, the community community said it would pay Santander a deposit of $ 48 million to assets and liabilities for the branches.

The New York -based lender said he expected deposits of about 600 million dollars and the purchase of approximately $ 33 million in branch loans.

The deal is expected to be closed in the fourth quarter of 2025.

(Participated in the reports of Arasu Kannagi Basil in Bangaluru; edited by Leroy Liu)