Metro Bank to merge with First National Bank

HARRISBURG, Pa. (WHTM) – First National Bank and Metro Bank have agreed to merge.

Pittsburgh-based F.N.B Corporation will buy Harrisburg-based Metro Bancorp, Inc. in an all stock transaction worth approximately $32.72 per share, according to a joint press release by both companies.

It is a $474 million aggregate deal.

First National will take on close to $3 billion in assets as part of the deal, including 32 banking offices in the Midstate.

According to the release, both companies expect to complete the transaction in the first quarter of 2016 after satisfaction of customary closing conditions, including regulatory approvals and the approval of the FNB and Metro shareholders.

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