Fulton Financial Corp. said late Wednesday that it has a deal to buy Skylands Financial Corp. of New Jersey for $31 million of stock.Skylands, which is based in Hackettstown, has $225 million of assets and eight branches in three counties. The deal, which is scheduled to close in the third quarter, is valued at 13.7 times the seller's earnings, and 2.01 times its book value.

Terms of the deal call for Skylands Community Bank to become the 12th banking subsidiary of Fulton, a $6.1 billion-asset company with banks in Pennsylvania, Maryland, Delaware, and New Jersey. The company already has a bank in Easton, Pa., not far from Hackettstown.

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