* To merge The Bank, Skylands Community Bank
* Combined bank to be called Fulton Bank of New Jersey
* Merger expected to close in Q4
Aug 2 U.S. regional bank Fulton Financial Corp
said it will merge two of its banking units to
strengthen its presence in New Jersey.
Post-merger, the Mt Laurel-based The Bank and the
Chester-based Skylands Community Bank will combine to become the
"Fulton Bank of New Jersey" with assets of $3.5 billion.
Angela Snyder, CEO of The Bank, will become CEO of the
combined bank and Steve Miller, president of Skylands Community
Bank, will be the chief operating officer.
The transaction is expected to be completed during the
fourth quarter of 2011.
"Fulton Bank of New Jersey will enable customers to more
easily access all of our banking services throughout New Jersey
and our ATMs in Pennsylvania and Delaware through our largest
subsidiary, Fulton Bank N.A," Fulton Financial Chief Executive
Scott Smith said in a statement.
The Bank currently has 48 branches and Skylands has 27
Shares of the Lancaster, Pennsylvania-based Fulton Financial
closed at $10.04 on Tuesday on Nasdaq.
(Reporting by Rachel Chitra in Bangalore; Editing by Roshni