07:33 AM EDT, 06/25/2025 (MT Newswires) -- Santander Bank (SAN) said Wednesday that it has agreed to sell seven branches in the Allentown, Pennsylvania, area to Community Financial System ( CBU ) unit Community Bank.

The deal is slated to be completed in Q4, Santander said.

Santander said it plans to maintain its physical and digital investments, focusing on its flagship Openbank initiative.

Community Bank said in a separate statement that it will acquire $600 million in deposits and $33 million in loans as part of the deal.

Shares of Santander were down by more than 3% in recent Wednesday premarket activity.