PHILADELPHIA -- Prime Bancorp Inc. said it has signed a definitive agreement to purchase Bank of Delaware Valley, Fairless Hills, Pa.

Bank of Delaware Valley, a subsidiary of B.M.J. Financial Corp., Bordentown, N.J., opened in 1989. It reported assets of $32.5 million on June 30, including "$22 million of high-quality loans," said Erwin T. Straw, president and chief executive officer of Prime.

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