Provident Bankshares, the parent of Provident Bank of Maryland, said it has bought First Citizens Financial Corp. for $120.8 million.

Provident exchanged 0.7665 of a share of its stock for each First Citizens common share.

First Citizens, of Gaithersburg, Md., is the parent of Citizens Savings Bank, which has $690 million of assets and 15 branches.

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