F.N.B. completes merger with Maryland bank
F.N.B. Corp., parent company of First National Bank of Pennsylvania, has completed its merger with Annapolis Bancorp Inc., parent company of BankAnnapolis.
First National Bank acquired eight branches in Anne Arundel and Queen Anne’s counties in Maryland. FNB obtained all required legal and regulatory approvals, and the ANNB shareholders approved the transaction.
Shares of Annapolis Bancorp will no longer be traded on the NASDAQ stock exchange.
“We look forward to serving our newest clients in Annapolis, as well as delivering our expanded products and services in the surrounding metropolitan areas, including Baltimore,” Vincent J. Delie Jr., president and CEO of F.N.B., said in a release.
Richard M. Lerner, who served as chairman and CEO of Annapolis Bancorp, will remain with First National Bank to provide transitional support as chairman of the newly established Maryland region.