Elkridge Bank to be purchased

October 06, 1994

Elkridge National Bank, which has assets of about $80 million, has signed an agreement to be purchased by FCNB Corp., a bank holding company based in Frederick.

The merger deal, which the companies say is worth more than $10 million, must be approved by state and federal regulators.

Elkridge National Bank officers said the bank's 6,500 customers would see little change in banking services as a result of the

agreement. Elkridge National Bank operates banks in Columbia, Glen Burnie and Elkridge, its headquarters.

Under the terms of the merger agreement, FCNB would exchange one share of stock for each share of outstanding ENB Financial Corporation stock. About 350 shares of FCNB stock are expected to be issued in the transaction, bank officials said.

If the deal is approved, FCNB, a publicly held company, will have assets of more than $500 million, company officials said.

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