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Tower Bancorp To Sell American Home Bank

Pennsylvania-based Tower Bancorp is seeking to sell its American Home Bank division.

Pennsylvania-based Tower Bancorp is seeking to sell its American Home Bank (AHB) division, Reuters reports. The company is planning to discontinue the division’s mortgage banking activities within 90-120 days from Jan. 1, 2011.

Tower Bancorp obtained the division as part of its $65 million acquisition of First Chester County in December 2009. AHB lost $2.2 million through the first nine months of 2010.

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