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Prudential Bancorp Wins Shareholder Nod for USD 142.1m Fulton Financial Buyout.

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MANews-(C)2009-2022

Pennsylvania, US- based financial institution Fulton Financial Corp. (NASDAQ: FULT) and Prudential Bancorp, Inc. (NASDAQ: PBIP)

Shareholders have Pennsylvania, US- based bank holding company Prudential Bancorp, Inc. (NASDAQ: PBIP) have voted to approve Pennsylvania, US- based financial institution Fulton Financial Corp's (NASDAQ: FULT) acquisition of Prudential Bancorp and its subsidiary, Prudential Bank, located in Philadelphia, the company said.

The merger that was previously announced on March 2, 2022.

The stock and cash transaction is valued at USD 142.1m.

After Fulton's acquisition of Prudential Bancorp is complete, Fulton will operate two banking subsidiaries Fulton Bank, N.A. and Prudential Bank until such time as Prudential Bank is merged into Fulton Bank.

Fulton expects the bank merger to occur in 4Q22. Fulton received approval of its application for the bank merger from the Office of the Comptroller of the Currency on June 13, 2022.

Under the terms of the deal, Prudential...

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