Fed Clears Fulton-Columbia Deal

Closing is expected by Feb. 1.
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The Federal Reserve Board cleared Fulton Financial's (FULT) - Get Report 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.