Delaware County Bank to lay off 58 workers from HQ


By Brandon Klein - bklein@civitasmedia.com



First Commonwealth Financial Corp. and DCB Financial Corp. will lay off 58 workers at DCB Financial’s main office, 110 Riverbend Ave., in Lewis Center in April as part of their merger, which is expected to close by April 3.


File photo

The state of Ohio was informed of upcoming “employment reductions” at the DCB Financial Corp.’s main office in Lewis Center.

DCB Financial, the parent company of the Delaware County Bank and Trust Co., is expected to be acquired by the Indiana, Pa.-based First Commonwealth Financial Corp. by April 3.

First Commonwealth’ reductions at 110 Riverbend Ave. are expected to be permanent, according to Carrie Riggle, executive vice president and human resources manager of First Commonwealth.

“While the entire facility will not be closing, we anticipate two sets of employment reductions to occur in connection with this merger. The first reduction will occur on or between the dates of April 3, 2017, and April 14, 201 7, and the second will occur on or between the dates of May 20, 2017, and June 2, 2017,” she said in a letter to the Ohio Department of Job and Family Services and Orange Township trustees. “… No bumping or transfer rights exist with regard to any of the reductions as none of the affected employees are covered under a collective bargaining agreement.”

Job titles that are part of the reduction include executive positions such as chief executive officer, chief information officer, senior vice presidents along with accounting manager, couriers and information technology specialist. DCB CEO and president Ron Seiffert told the Gazette in October he planned to leave the company after the merger.

“It is customary to review staffing redundancies and consider appropriate restructuring during an acquisition,” said Amy Jeffords, communications/community relations specialist at First Commonwealth. “Some positions at Delaware County Bank will be displaced when it is acquired by First Commonwealth Bank, however much of the customer-facing team will remain in place. We’re a community bank like DCB, so customers can expect the same type of service from First Commonwealth.”

First Commonwealth received regulatory approval for the proposed merger. DCB Financial shareholders will vote on the proposed merger at a special meeting of the shareholders scheduled for March 16.

Aside from its Lewis Center office, DCB had 13 branches in central Ohio.

First Commonwealth Financial Corp. and DCB Financial Corp. will lay off 58 workers at DCB Financial’s main office, 110 Riverbend Ave., in Lewis Center in April as part of their merger, which is expected to close by April 3.
http://aimmedianetwork.com/wp-content/uploads/sites/48/2017/02/web1_20161003_121956-2-1-.jpgFirst Commonwealth Financial Corp. and DCB Financial Corp. will lay off 58 workers at DCB Financial’s main office, 110 Riverbend Ave., in Lewis Center in April as part of their merger, which is expected to close by April 3. File photo

By Brandon Klein

bklein@civitasmedia.com

Gazette reporter Brandon Klein can be reached by email or on Twitter at @brandoneklein.

Gazette reporter Brandon Klein can be reached by email or on Twitter at @brandoneklein.