The company will gain branches in Northampton County as part of the $79 million deal.
The company will merge Fidelity Savings and Loan and Washington Savings Bank into its own bank.
Christopher Maher, who has announced seven bank deals since 2015, says a stable rate outlook will help buyers and sellers crunch merger numbers.
Craig Howie, who joined the bank after a merger, will succeed the retiring Jon Evans on Jan. 1.
George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks.
More banks in the state are considering acquisitions to cut costs and combat margin pressure.
The Pennsylvania company gained $67 million in assets under management as part of the acquisition.
The Pennsylvania company will pay $346 million for MutualFirst Financial.
A strong economy, low-cost deposits and disruption from M&A are presenting opportunities.
The company will offer deposit-related services to firms with permits for hemp and CBD.