FULT - Fulton Financial receives regulatory approvals for Prudential Bancorp acquisition

The Federal Reserve Bank of Philadelphia and the Pennsylvania Department of Banking and Securities have approved the respective applications by Fulton Financial (NASDAQ:FULT) to acquire Prudential Bancorp (NASDAQ:PBIP) and, indirectly, to acquire Prudential Bank, located in Philadelphia. The proposed acquisition in which Prudential will merge with and into Fulton in a stock and cash transaction was publicly announced on March 2, 2022. Following the closing, Prudential Bank will be merged into Fulton’s bank subsidiary, Fulton Bank, which is expected to occur in the Q4 of this year. “With these approvals, we remain on track to bring our talented teams together to help even more customers and communities in Philadelphia achieve financial success.” said E. Philip Wenger, Fulton’s Chairman and CEO.

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Fulton Financial receives regulatory approvals for Prudential Bancorp acquisition