Tower Bancorp Inc. of Greencastle, Pa., has agreed to buy FNB Financial Corp. of McConnellsburg for $31.2 million in cash and stock.
The deal, announced Thursday, is expected to close early next year. It would be Tower's first acquisition in at least a decade and would move it into neighboring Fulton County.
The $347 million-asset Tower has nine branches in Franklin County and one in Washington County, Md. The $181 million-asset FNB has three branches in Fulton County, two in Washington County, and one in Franklin County.
FNB's First National Bank of McConnellsburg would be merged into Tower's First National Bank of Greencastle. John Duffey, FNB's president, would join Tower's senior management team, and three FNB directors would join Tower's board.
