Trenton Savings Bank has agreed to acquire Burlington County Bank for $12.5 million.

Burlington County stockholders will get $77 in cash for each of their shares in the $76.4 million-asset bank.

The merger will increase Trenton Savings' assets to $600 million and branches to 12, including the three Burlington County branches.

Officials of Trenton Savings said Burlington County would become a division of their state-chartered savings bank.

Trenton Savings went public last August and is controlled through a mutual holding company. Officials said addition of Burlington County's trust and commercial lending services was the main reason for the acquisition.

"The acquisition will complement our branch network and product line," said Wendell Breithaupt, Trenton president.

Mr. Breithaupt said the merger would immediately add to earnings and is part of Trenton's focus on leveraging the capital raised in its August public offering.

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