SYRACUSE, N.Y. - Onbancorp said it has completed the acquisition of Franklin First Financial Corp. of Wilkes-Barre, Pa.
Franklin shareholders will receive 0.825 Onbancorp common share for each Franklin common share.
The company also said that immediately prior to completion of the acquisition, Franklin completed a public offering of 1,439,529 common shares at $29.50 each. These shares were immediately exchanged for Onbancorp common stock in connection with the acquisition.