Santander to sell seven Pennsylvania branches to Community Bank

BOSTON - Santander Bank, a prominent player in the banking sector with a market capitalization of $119.34 billion, announced Wednesday it has entered into an agreement to sell seven branches in the Allentown, Pennsylvania area to Community Bank, N.A., a subsidiary of Community Financial System, Inc. According to InvestingPro data, Santander’s stock has delivered an impressive 83.76% return over the past year.

The branches being sold are located in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall. The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approval.

The sale comes as Santander continues its transformation toward becoming a "digital-first bank with branches," according to the company’s press release. This strategic shift appears well-timed, as InvestingPro analysis shows the bank maintaining a GOOD overall financial health score while generating annual revenue of $54.9 billion. Santander launched its digital banking platform, Openbank, in the U.S. market in late 2024. The platform has reportedly generated over $4 billion in deposits and serves more than 100,000 customers as of May 2025.

"As we grow our presence nationally, we are making refinements to our physical presence to reposition and optimize our footprint for the future," said Swati Bhatia, Head of Retail Banking & Transformation for Santander Bank and CEO for Openbank in the United States.

Community Bank operates approximately 200 facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts, with over $16 billion in assets.

Santander Bank, with $102 billion in assets as of December 31, 2024, stated that customers affected by the branch sales will be contacted by the bank to ensure a smooth transition. Openbank accounts are not included in this transaction.

Reed Smith served as legal advisor to Santander Bank for this transaction. For detailed insights into Santander’s financial metrics and 8 additional expert ProTips, visit InvestingPro, where you’ll find comprehensive analysis and valuation metrics in the Pro Research Report.

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