Alma Bank to Acquire American Community Bank in $2 Billion Merger

With a shared commitment to local decision-making, Alma Bank and American Community Bank have signed a definitive merger agreement. The deal will combine two privately held institutions to form a regional franchise with approximately $2 billion in total assets and 21 branch offices across the New York metropolitan area.

Corp and Tech·July 31, 2026·reads: 2,406

Alma Bank to Acquire American Community Bank in $2 Billion Merger

The merger, slated to close in the first quarter of 2027, aims to consolidate the banks' presence along the Queens and Long Island corridor while expanding services into Manhattan, Brooklyn, the Bronx, and Northern New Jersey. Under the agreement, American Community Bank will merge into Alma Bank, which will serve as the surviving institution. Financial terms of the acquisition remain undisclosed.

Michael P. Psyllos will remain President and CEO of the combined entity. Anthony Capobianco, currently the President and CEO of American Community Bank, is expected to join Alma Bank as Senior Executive Vice President and board member, alongside American Community Bancorp Chairman Aldo Verrelli. These leadership transitions are contingent upon standard regulatory and shareholder approvals.

Until the transaction is finalized, both banks will continue to operate as independent entities, maintaining existing service channels and client relationships. The combined organization intends to leverage increased lending capacity and expanded digital capabilities to serve a diverse client base ranging from individual families to commercial real estate investors and municipalities.