United Bank of Philadelphia said Wednesday that it has a deal to acquire four inner-city branches from First Union Corp. for an undisclosed sum.
The deal would boost United Bank's assets by 36%, to $150 million. Emma C. Chappell, founder and chief executive officer at United, said that the bank would retain "as many former First Union employees as possible." The bank, founded in 1992, operates five other branches in the city. - Alan Kline