LAWRENCEVILLE, N.J. - First Fidelity Bancorp. said Tuesday it had completed its previously announced acquisition of The Bank of Baltimore.
Bank of Baltimore stockholders will receive $20.75 in cash for each share of common stock.
The Bank of Baltimore, with $2.2 billion of assets, was merged into First Fidelity Bank, Elkton, Md.
As a result of the merger, the bank will now operate in four states: Maryland, Pennsylvania, New Jersey, and New York. Bank of Baltimore executives Joseph A. Cicero and Alan M. Leberknight will retain their titles as chief operating officer and chief commercial banking officer, respectively, with the Maryland division of First Fidelity,