SYRACUSE, N.Y. - Onbancorp said it has completed the acquisition of Franklin First Financial Corp. of Wilkes-Barre, Pa.

Franklin shareholders will receive 0.825 Onbancorp common share for each Franklin common share.

The company also said that immediately prior to completion of the acquisition, Franklin completed a public offering of 1,439,529 common shares at $29.50 each. These shares were immediately exchanged for Onbancorp common stock in connection with the acquisition.

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