Harleysville National Corporation announced today it reached a definitive agreement to acquire the Citizens Bank and Trust Company, a $130-million community bank based in Palmerton.

Under the terms of the agreement, accounted for by pooling of interest, Citizens shareholders will receive 166 shares of Harleysville common stock for each share of Citizens stock. The approximate deal value to Citizens is $29.9 million.

Citizens has offices in Kresgeville, Walnutport, Lansford, Summit Hill, Lehighton, McAdoo, Honesdale, Slatington and Lehigh Township. James A. Wimmer is its chairman and president.