Pennsylvania-based First National Bank (FNB) has closed the acquisition of local lender Metro Bancorp, boosting its assets to over $20bn.
Pittsburgh-based FNB and Harrisburg-based Metro agreed to the all-stock merger deal valued at $474m in August 2015.
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The merger has made FNB the second largest bank in Pennsylvania in terms of total assets, and expanded its regional retail branch network to about 70 locations across 17 counties in central and eastern Pennsylvania, FNB said in a statement.
FNB has also named former Metro chairman and CEO Gary Nalbandian to the FNB and First National Bank of Pennsylvania Boards, with effect from 1 March 2016.
FNB president and CEO Vincent Delie, Jr. said: "Our merger with Metro adds significant scale for FNB, and is both financially and strategically attractive. We are excited to welcome our new customers in Central Pennsylvania and to introduce them to our innovative approach to banking, which brings together our leading technology and commitment to personal service."
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