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Malvern, PA based First Priority Financial Corporation, the holding company for First Priority Bank acquired Newtown, PA based Prestige Community Bank.

The acquisition benefits Prestige by accelerating the often slow process that de novo banks go through in the development of their business model and achieving profitability.
First Priority Bank opened for business in January, 2006 and has two full-service banking offices, one at its headquarters in Malvern, Chester County and one in Wyomissing, Berks County. At December 31, 2007, FPFC had loans, deposits and total assets of $104.2 million, $116.6 million and $151.5 million, respectively.

Curtis Financial provided a fairness opinion to the Board of Directors of Prestige Community Bank 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 Prestige Board of Directors.