ACNB Corp. in Gettysburg, Pa., is planning to enter Maryland with its agreement to buy New Windsor Bancorp in Taneytown, Md.

The $1.2 billion-asset ACNB said in a press release Tuesday that it will pay $33.3 million, or $33.11 a share, for the $311 million-asset New Windsor. The cash-and-stock deal, which is expected to close by the third quarter, values New Windsor at 145% of its tangible book value.

ACNB said it expects to incur $5.5 million in merger-related charges. The company said it expects the deal to be 6% accretive to its 2017 earnings per share. It should take less than five years to earn back the acquisition's dilution to ACNB's tangible book value.

Commonwealth Advisors and Bybel Rutledge advised ACNB. Sandler O'Neill and BuckleySandler advised New Windsor.

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