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.

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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