SETTLEMENT AND NON-COMPETITION AND NON-SOLICITATION AGREEMENTSettlement and Non-Competition and Non-Solicitation Agreement • October 20th, 2022 • HV Bancorp, Inc. • State commercial banks • Pennsylvania
THIS SETTLEMENT AND NON-COMPETITION AND NON-SOLICITATION AGREEMENT (the “Agreement”), dated as of October 18, 2022, by and among HV Bancorp, Inc., a Pennsylvania corporation (the “Company”), Huntingdon Valley Bank (the “Bank”), Citizens Financial Services, Inc., a Pennsylvania corporation (“Citizens”), and Travis J. Thompson (“Executive”) is effective as of the Closing (as defined below) (the “Effective Date”). For purposes of this Agreement, Executive, the Company, the Bank, and Citizens shall each be a “Party” and shall collectively be the “Parties”.
Citizens Financial Services, Inc. and HV Bancorp, Inc. Sign Definitive Merger AgreementCitizens Financial • October 20th, 2022 • HV Bancorp, Inc. • State commercial banks
This strategically compelling merger is expected to enhance and expand CZFS’s presence in communities located in Montgomery, Bucks and Philadelphia Counties in Pennsylvania, New Castle County in Delaware, and Burlington County in New Jersey. Travis J. Thompson, currently the Chief Executive Officer of HVBC, and Robert J. Marino, currently the President of HVBC, will be employed as senior officers of FCCB.
AGREEMENT AND PLAN OF MERGER DATED AS OF OCTOBER 18, 2022 BY AND AMONG CITIZENS FINANCIAL SERVICES, INC., CZFS ACQUISITION COMPANY, LLC, FIRST CITIZENS COMMUNITY BANK, HV BANCORP, INC. AND HUNTINGDON VALLEY BANKAgreement and Plan of Merger • October 20th, 2022 • HV Bancorp, Inc. • State commercial banks • Pennsylvania
This AGREEMENT AND PLAN OF MERGER (this “Agreement”) is dated as of October 18, 2022, by and among Citizens Financial Services, Inc., a Pennsylvania corporation (“CZFS”), CZFS Acquisition Company, LLC, a Pennsylvania limited liability company and wholly-owned subsidiary of CZFS (“CZFSAC”), First Citizens Community Bank, a Pennsylvania-chartered bank and wholly-owned subsidiary of CZFSAC (“FCCB”), HV Bancorp, Inc., a Pennsylvania corporation (“HVBC”), and Huntingdon Valley Bank, a Pennsylvania-chartered bank and wholly-owned subsidiary of HVBC (“HVB”).
