Fulton in Pennsylvania to shutter 21 branches

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Fulton Financial in Lancaster, Pa., is planning to close 21 branches.

The $24.6 billion-asset company said in a regulatory filing Thursday that the branches, in Maryland, New Jersey and Pennsylvania, will close in early January.

Fulton said it expects to incur $11.5 million in pretax costs tied to the closings, including $1 million tied to employee severance, though the move should save the company $7 million a year.

Several banks have announced branch shutdowns in recent months, including First Commonwealth Financial in Indiana, Pa.; WesBanco in Wheeling, W.Va.; Mercantile Bank in Grand Rapids, Mich.; and Nicolet Bankshares in Green Bay, Wis.

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