READING, Pa. - Meridian Bancorp said Wednesday it completed its previously announced merger with Commonwealth Bancshares of Williamsport.

Under the terms of the agreement, Commonwealth shareholders will receive 1.42 shares of Meridian common stock for each of their outstanding shares. That gives the deal a value of about $350 million, or about 215% of Commonwealth's book value.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.