Business Services Industry
Pittsburgh-Based PNC to Buy Bridgewater, N.J.-Based United National Bancorp.
Knight Ridder/Tribune Business News, August, 2003
By Richard Newman, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Aug. 22-- A New Jersey bank will likely soon be gobbled up by a bigger fish from out of state.
Bridgewater-based United National Bancorp, holding company for UnitedTrust Bank, has agreed to be ac...uired by Pittsburgh-based PNC Financial Services Group for $638 million in stock and cash, subject to approval by regulators and United National shareholders, the companies said Thursday.
PNC will get United National's 52 branches in Essex, Hunterdon, Middlesex, Morris, Somerset, Union, and Warren counties in New Jersey and Lehigh and Northampton counties in Pennsylvania. It will also get $2.2 billion in deposits and $3 billion in assets -- which include...
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