Berwyn, PA based NOVA Financial Holdings Inc., the holding company for NOVA Bank, has acquired Philadelphia, PA based Pennsylvania Business Bank for approximately $11.1 million in cash.

The acquisition provides for the expansion of NOVA’s Philadelphia footprint and its entrance into New Jersey. In addition, the complementary profiles of the banks are expected to generate significant revenue enhancement and business development synergies.

Curtis Securities, LLC provided a fairness opinion to the Board of Directors of NOVA Financial Holdings in connection with the transaction. Knowledge of and experience with the banking industry enabled Curtis to develop its opinion in a timely manner and provide useful transaction insights to the NOVA Board of Directors.