Business news of local interest
Conemaugh uses new tech
Conemaugh Memorial Medical Center is offering new surgical treatment technology for breast cancer patients.
The wire-free radar localization system uses radar technology to mark the area in the breast that needs to be removed surgically, allowing for precise removal of the tumor.
The new wire-free device is a reflector about the size of a grain of rice and, once inserted, the patient is not even aware that it is in place. The device is nonactive in the patient until activated by the surgeon.
M&T Bank recognized
Greenwich Associates, a leading global company known for benchmarking the best in the financial industry, has recognized M&T Bank with 10 regional and national Greenwich Excellence Awards for small business and middle market banking.
Since 2011, M&T Bank has earned a total of 99 Greenwich Excellence Awards, of which 75 were in small business. The company has been in the top five percent of banks evaluated in the small business category for the past seven years.
Banks plan merger
Somerset Trust Holding Co. and Somerset Trust Co., each headquartered in Somerset, and First Bank of Lilly, headquartered in Lilly, have announced the signing of a definitive merger agreement.
The agreement calls for Somerset Trust Holding Co. to acquire the stock of First Bank of Lilly.
The aggregate purchase price will be $3.4 million, approximately equal to Lilly’s book value. Lilly’s shareholders residing in Pennsylvania, who own about 90 percent of its outstanding shares, will receive shares of Somerset Trust Holding Co.. Lilly shareholders residing outside Pennsylvania will receive cash of equal value.
The merger agreement was approved by both banks’ boards of directors and is expected to close in the third quarter of 2019, subject to regulatory and shareholder approval.
Business After Hours set
The Blair County Chamber of Commerce will hold Business After Hours from 5 to 7 p.m. Feb. 21 at Stuckey Buick GMC, 808 Logan Blvd.
Cost to attend is $10 for chamber members and $20 for nonmembers. Reservations can be made by calling the chamber at 943-8151 or online at www.blairchamber.com.