Victory Bancorp in Limerick, Pa., and Huntingdon Valley in Warminster have agreed to a merger of equals.

The two companies reached an agreement last week to combine, under the Victory name, once Huntingdon completes a capital raise and mutual-to-stock conversion. New Huntingdon stock will be issued to Victory's shareholders; the Victory shareholders will also receive cash, if necessary, to ensure that they own no more than 48.5% of the combined company.

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