2 Major Banking Firms to Merge
Associated Press
NEWARK, N.J. — New Jersey’s First Fidelity Bancorp. and Philadelphia-based Fidelcor Inc. have agreed to join in a $1.34-billion deal that would be one of the biggest banking mergers ever, the companies announced today.
The bank holding company to be formed in the merger would have assets of $27 billion and more than 500 offices in New Jersey and eastern Pennsylvania. The merger must be approved by shareholders and by state and federal banking regulators.
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