Fulton Financial Corp. in Lancaster, Pa., said Tuesday that two of its banking subsidiaries have agreed to merge, creating a $9 billion-asset bank operating in three Northeast states.
Delaware National Bank in Georgetown will be combined with Fulton Bank in Lancaster. The combined bank will have $8.9 billion in assets and 119 branches in Delaware, Pennsylvania and Virginia.
The two subsidiaries are among eight banks that the $17 billion-asset Fulton Financial owns in the Northeast.
Delaware National has $466.4 million of assets and 12 branches in its home state. Fulton Bank, with nearly $8.7 billion of assets, has 107 branches in Pennsylvania and Virginia.
The merger is expected to close at the end of the year, pending regulatory approval.
