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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