ACNB acquires Maryland-based Frederick County Bancorp

ACNB Corp. acquired a Frederick, Md.-based bank holding company and its community bank on Saturday.

Frederick County Bancorp Inc. (FCBI) and its subsidiary Frederick County Bank, were acquired by Gettysburg-based ACNB for an undisclosed amount of money.

ACNB announced last month that it was awaiting for final approval of the merger from both its and FCBI’s stockholders and that it expected to finalize the deal by Jan. 11.

The banks closed the sale on the set date and ACNB announced it will be operate the Maryland bank under the name “FCB Bank, A Division of ACNB Bank.”

FCBI stockholders received .99 share of ACNB Corp. common stock for each share they owned of FCBI’s common stock, resulting in ACNB giving 1.6 million shares of common stock to former FCBI stockholders.

With the inclusion of FCBI’s five banks in Frederick County, Gettysburg corporation now operates 34 community banking offices and three loan offices in Adams, Cumberland, Franklin, Lancaster and York counties in Pennsylvania and in Baltimore, Carroll and Frederick counties in Maryland.

“We are excited to welcome Frederick County Bancorp, Inc. as ACNB Corporation expands its presence in the Maryland market,” said James Helt, president and CEO of ACNB. “It is our belief the addition of Frederick County Bank’s community banking network in Frederick County, Maryland, positions ACNB Corporation for strong and profitable growth in a desirable market that is adjacent to our current footprint in southcentral Pennsylvania and central Maryland.”

As of Monday, ACNB Corporation now has approximately $2.2 billion in assets, $1.8 billion in deposits and $1.6 billion in loans.