Wisconsin-based Fiserv Inc. completed its previously announced agreement to acquire the item processing business of the Federal Home Loan Bank of Pittsburgh, according to Leslie M. Muma, president and CEO of Fiserv. Through this agreement, Fiserv has added two FHLBank item-processing facilities in Pittsburgh and Conshohocken, located outside Philadelphia.
The two item processing facilities provide a full range of check and document services to approximately 120 financial institutions throughout Pennsylvania, Delaware and West Virginia. Combined, the two operations process approximately 120 million items annually. With completion of this latest acquisition, Fiserv now processes more than 4.6 billion items annually at facilities located throughout North America.
Topics Mergers & Acquisitions
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