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ACNB approved to close on deal with Maryland bank
Ioannis Pashakis//December 17, 2019
Gettysburg-based ACNB Corp. is moving forward on a deal to acquire a Frederick, Md. bank holding company after receiving both state and federal approval.
Frederick County Bancorp Inc. (FCBI) and its subsidiary company, Frederick County Bank, expect to complete a merger with ACNB by Jan. 11.
ACNB announced Tuesday that the regulatory bodies of both Pennsylvania and Maryland have approved the acquisition, and both companies are now waiting on approval from FCBI’s stockholders and ACNB’s shareholders.
ACNB Corp. is a $1.7 billion financial holding company that operates the Gettysburg-based ACNB Bank and Westminster, Md.-based Russel Insurance Group Inc. ACNB Bank operates 22 locations in Adams, Cumberland, Franklin and York counties.
FCBI has approximately $450 million in assets and its subsidiary, Frederick County Bank, operates one bank.
The companies have yet to disclose the price of the sale.
