NexTier, Inc. and the Snyder Group Announce Regulatory Approval of Capital Infusion into NexTier Bank, NA

<location value="LU/us.pa.butler" idsrc="xmltag.org">BUTLER, Pa.--(BUSINESS WIRE)-- NexTier, Inc., the Butler, PA-based holding company for NexTier Bank, National Association, announces regulatory approval for a capital infusion from the Snyder Group, which completes efforts to meet the bank’s capital needs.

“The Snyder Group has been approved by federal and state regulators for a capital infusion to NexTier Bank, with an investment above and beyond the federal regulatory amount required,” announced Margaret Irvine Weir, NexTier Bank’s President.

NexTier announced its intention to seek an infusion of capital in November 2010.The Snyder Group, based in Kittanning, PA, provided an initial investment to NexTier January 31, 2011.The remaining capital infusion will be completed within the next 30 days, resulting in 51% ownership of NexTier.

About NexTier Inc.
NexTier Inc. has assets of $500 million and serves the western Pennsylvania region with corporate offices in Butler and Wexford.NexTier, Inc. includes NexTier Bank, NexTier Insurance Services, NexTier Wealth Management, and NexTier Armored Services. NexTier Bank has 15 community offices throughout northern Allegheny, Butler and Armstrong counties and is in its fourth generation of leadership by the Irvine family.

About the Snyder Group
The Snyder Group is the owner of Snyder Associated Companies, a holding company with investments in mining, oil, and natural gas exploration activities, manufacturing, agriculture and banking.The Snyder Group has a majority interest in the Farmers and Merchants Bank of Western Pennsylvania, based in Kittanning with 8 community offices serving Armstrong County and $400 million in assets.

NexTier BankMargaret Irvine Weir, President, 724-991-1604 orMaria Smathers, Director of Marketing, 724-996-3310
or
Snyder GroupMark Snyder, 724 548-8101

Source: NexTier Inc.