The branches are located in Allentown, Bethlehem, Coopersburg, Easton, Emmaus and Whitehall, Pa. The agreement comes as Santander Bank continues to transform into a national, digital-first bank with branches. Santander launched Openbank in the U.S. market in late 2024 with a high-yield savings account offering that is now available nationwide. Since its U.S. debut and as of May 2025, Openbank has generated more than $4 billion in deposits and serves more than 100,000 customers. Santander also unveiled last month its first Openbank-branded physical location in the U.S. at the Miami Worldcenter. Openbank accounts are not included in this transaction with Community Bank.

The transaction is expected to close in the fourth quarter of 2025 and is subject to regulatory approval and satisfaction of customary closing conditions.

The Reed Smith team advising on the deal was led by chair of the firm’s global M&A team and partner Jennifer Cheng with support from partner Will Atherton and senior associate Terrence Fairfield.