MNC Agrees to Acquire Equitable Bancorporation
From Reuters
BALTIMORE — MNC Financial Inc., a leading regional banking firm based in Baltimore, announced Wednesday that it has agreed to acquire Equitable Bancorporation of Baltimore in a tax-free stock swap valued at about $583 million.
The combined firm would have assets of more than $23 billion and would rank as the nation’s 24th-largest bank holding company, MNC said in a statement.
Directors of both companies approved the merger Tuesday, the company said.
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