Shareholders OK FNB Corp. takeover of Harrisburg bank
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PITTSBURGH — Shareholders on Thursday approved a deal for Pittsburgh-based FNB Corp. to take over Metro Bancorp, the Harrisburg-based owner of Metro Bank.
The deal enables FNB to acquire Metro Bank’s 32 branches.
The deal makes FNB the largest regional banking chain in Pennsylvania. Locally, FNB has branches in Peters Township, Waynesburg and Rices Landing.
According to a joint press release, FNB and Metro Bank shareholders approved the merger.
The all-stock transaction is valued at $474 million. The merger will be completed in the first quarter of this year, with Metro Bank’s assets merging into FNB, at which point Metro will no longer exist.