UPDATE 1-BCB Bancorp to buy Pamrapo for $46.6 mln

* BCB to buy Pamrapo in an all-stock deal

* Combined entity to have $1.2 bln in total assets

June 30 (Reuters) - BCB Bancorp Inc (BCBP.O) agreed to acquire Pamrapo Bancorp Inc PBCI.O for $46.6 million in an all-stock deal to increase its deposit market share in Hudson County, New Jersey.

BCB Bancorp will give one share for every Pamrapo share. BCP Bancorp shares closed at $9.50 on Thursday, the last day the shares traded according to Reuters data.

The deal values Pamrapo at $46.6 million, based on about 4.9 million outstanding Pamrapo shares as of May 8.

Donald Mindiak, currently the finance chief of BCB Bancorp, will be the chief executive of the combined company.

The combined entity is projected to have $1.2 billion in total asset and hold the fifth largest deposit market share in Hudson County, the companies said in a joint statement.

The resulting company, whose merger is expected to be completed by year end, will be a bank holding company with one banking subsidiary.

FinPro Inc acted as financial advisor to BCB Bancorp and Endicott Financial Advisors LLC acted as financial advisor to Pamrapo.

Pamrapo shares closed at $9.57 Monday on Nasdaq. (Reporting by Arundhati Ramanathan in Bangalore; Editing by Himani Sarkar)