In Brief: Philly's JeffBanks, Constitution Merging

PHILADELPHIA - JeffBanks Inc. and Constitution Bancorp have agreed to merge in a stock deal.

Constitution shareholders will receive $2.7 million of common stock of JeffBanks, but not more than 135,000 shares in the aggregate.

JeffBanks will add $120 million of assets to its $750 million of footings with the acquisition.

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