Baltimore-based Howard Bank to be acquired for $418M

Howard Bank will be acquired by the Pittsburgh-based FNB Corporation.

Baltimore-based Howard Bank has agreed to be acquired by Pittsburgh-based FNB Corp., the holding company for First National Bank of Pennsylvania, for $418 million.

Howard Bank, founded in 2004, has 13 branches in Baltimore, Anne Arundel and Howard Counties, and $2.6 billion in assets. As of the most recent quarter, it had $1.9 billion in loans and leases, and $2 billion in deposits.

The banks expect to complete the merger and integration in early 2022.

First National Bank has about 340 branches in seven states and $38 billion in assets. Its branches are located in major metro areas including Charlotte, Baltimore, Cleveland and Pittsburgh. It has several branches in the District, suburban Maryland and Northern Virginia.

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Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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