Butler, Pa.-based NexTier, Inc., is acquiring Riverside Bank of Dublin, Ohio..The deal is expected to close in the third quarter of this year. NexTier is the holding company of NexTier Bank. As of the end of March, the $2.9 billion NexTier Bank had 32 branches in western Pennsylvania and in Rochester and Williamsville, N.Y., along with an LPO in Cleveland. Riverside Bank had $270 million in assets, $238 million in loans and $239 million in deposits along with a single branch. The combined bank will have $3.1 billion in assets. Riverside Bank President Travis Sanders will join NexTier Bank as regional president for Columbus, Ohio. New York City-based Keefe, Bruyette & Woods was financial advisor to NexTier, while Alston & Bird LLP, Atlanta, provided legal counsel. Chicago-based Performance Trust Capital Partners LLC was financial adviser to Riverside, while Dinsmore & Shohl LLP, Cincinnati, was legal counsel.
