News & Events

Simpson Thacher is representing J.P. Morgan Securities LLC as financial advisor to Susquehanna Bancshares, Inc. (“Susquehanna”) in its acquisition of Tower Bancorp, Inc. (“Tower”).  The transaction is valued at approximately $343 million, including $88 million of cash consideration.  The transaction is expected to be completed in the first quarter of 2012. 

Susquehanna is a financial services holding company with assets of approximately $14 billion that provides for banking and financial services at more than 220 branch locations in the mid-Atlantic region and is listed on NASDAQ under the symbol “SUSQ.”  Susquehanna will be the largest community bank in Pennsylvania after the mergers of Tower and its recent acquisition of Abington Bancorp close.  Tower is the parent company of Graystone Tower Bank, a full-service community bank operating 49 branch offices in central and southeastern Pennsylvania and Maryland through three divisions, Graystone Bank, Tower Bank, and 1N Bank. The company has total assets of approximately $2.6 billion and is listed on NASDAQ under the symbol “TOBC.”   

The Simpson Thacher team working on this transaction includes Maripat Alpuche and Alfredo Porretti.