Fulton Financial Corp. in Lancaster, Pa., said it plans to combine two of its New Jersey banks.
On Tuesday, the $16 billion-asset company said the directors of its $2 billion-asset The Bank in Mt. Laurel and its $1.37 Skylands Community Bank in Chester, have agreed to merge. The consolidated bank is expected to be named Fulton Bank of New Jersey. The merger is expected to close in the fourth quarter.
Angela Snyder, current president and chief executive of The Bank, will become the CEO of the consolidated bank. Steve Miller, who is the president of Skylands Bank, will serve as president and chief operating officer.
The Bank's chairman, Scott Kintzing, retired on July 26 and Warner Knobe, an existing director, was named to replace him. Snyder was also recently named vice-chairman. Those two will continue in those roles at the combined bank.
Fulton ended 2007 with a dozen bank units, but has merged several in the following years. The company would have six charters after the New Jersey merger is completed.