F.N.B. announces shareholder approval for planned merger
A Pennsylvania bank with presence in the midstate has announced the closing of its merger with a Maryland banking company.
F.N.B. announced the framework for the merger in June. According to the agreement, shareholders of BCSB will be entitled to receive 2.08 shares of F.N.B. common stock for each common share of BCSB stock they own.
All regulatory approvals for the merger had been secured by Dec. 5, according to F.N.B. BCSB is the Baltimore-based holding company and parent of Baltimore County Savings Bank. It has 16 banking locations that will be transferred to F.N.B.
The merger is expected to close Feb. 15.
F.N.B. Corp. is the parent company of First National Bank. The company has four midstate branches, in Cumberland, Dauphin and York counties, and trades on the New York Stock Exchange under the ticker symbol FNB.