F.N.B., BCSB finalize merger
February 02, 2014 1:44 AM

The shareholders of F.N.B. Corp. and BCSB Bancorp have approved the agreement and plan of merger.

As announced on June 14 and as approved by the boards of directors of both companies, shareholders of BCSB will be entitled to receive 2.08 shares of F.N.B. common stock for each common share of BCSB.

The exchange ratio is fixed and the transaction is expected to qualify as a tax-free exchange for shareholders of BCSB.

As of Dec. 5, all regulatory approvals were received, and the companies expect the merger to have an effective closing date of Feb. 15.

F.N.B., headquartered in Hermitage, has $13.6 billion in holdings and more than 260 banking offices.

BCSB serves as the holding company for Baltimore County Savings Bank, which has 16 banking offices in the Baltimore area.

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