F.N.B., OBA deal gets shareholder approval
One of the merger deals in the works involving midstate banks received a last approval Thursday when the shareholders of Maryland-based OBA Financial Services Inc. approved the deal to merge with Pittsburgh's F.N.B. Corp.
The deal, announced in April, has received all necessary regulatory approvals. The closing date on the deal is expected to be Sept. 19, according to a news release.
The six OBA Bank locations in Montgomery, Anne Arundel and Howard counties will come under the FNB umbrella.
OBA shareholders will be entitled to receive 1.781 shares of F.N.B. Corp. common stock for each common share of OBA Financial. The transaction is expected to qualify as a tax-free exchange for shareholders of OBA Financial, according to the release.
F.N.B. Corp. is the bank-holding company for First National Bank of Pennsylvania, which has $15.4 billion in assets and a regional office in downtown Harrisburg.
This deal is one of four current acquisition deals in the works involving banks with a heavy presence in the midstate:
• Codorus Valley Bancorp Inc., holding company for PeoplesBank of York, has a deal in place to buy Maryland-based Madison Bancorp Inc. for $14.4 million.
• National Penn Bancshares Inc. of Allentown announced in June it plans to buy TF Financial Corp. of the Philadelphia area. TF is the parent company of Third Fed Bank. TF shareholders have scheduled a Sept. 17 vote on the offer.
• GNB Financial Services Inc., the bank-holding company for Gratz National Bank, is buying FNBM Financial Corp., the bank-holding company for one-branch First National Bank of Minersville in Schuylkill County.