Fed Clears Fulton-Columbia Deal

Banking

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TSC Staff

01/19/06 - 04:00 PM EST

The Federal Reserve Board cleared Fulton Financial's (FULT ) application to acquire Columbia Bancorp (CBMD ).

Lancaster, Pa.-based Fulton said it now awaits the approval of the Maryland Department of Labor, Licensing and Regulation, which is anticipated within the next few days.

Shareholders of Columbia, Md.-based Columbia Bancorp approved the deal on Dec. 5. Fulton said it expects the transaction will be completed on Feb. 1, making Columbia Bank Fulton Financial's 15th banking subsidiary.

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