New York-based Alma Bank is acquiring American Community Bank, a bank based in New York’s Long Island region.
The combined bank is expected to have approximately $2.0 billion in total assets with roughly 21 banking offices. Those 21 locations include 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 in the Queens, N.Y. and Long Island region, complemented by locations across Manhattan, Brooklyn, the Bronx and Northern New Jersey.
“This partnership is grounded in a shared belief that banking is, first and foremost, about people,” Michael Psyllos, president and CEO of Glen Cove, N.Y.-based Alma Bank, said. “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.”
The combination will offer customers greater lending capacity, enhanced treasury and cash management services, access to local wealth management and financial advisory professionals, and investment in digital banking technology. It will support individuals and families, closely held businesses, real estate investors, professionals, municipalities and commercial enterprises with increasingly sophisticated financial needs.
“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,” Psyllos said.
Psyllos will continue to serve as president and CEO after the transaction closes. Anthony Capobianco, president and CEO of American Community Bank, will join Alma Bank as senior executive vice president and become a member of its board. Aldo Verrelli, chairman of American Community Bancorp, is also expected to join Alma Bank’s board.
“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,” Capobianco said. “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.”
The merger has been approved by the boards of Alma Bank and American Community Bank. The transaction is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.
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 until then.