Svb Financial (NASDAQ:SVBF)
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SVB Financial Services, Inc. Shareholders Approve Merger With
Fulton Financial Corporation
LANCASTER, Pa., June 9 /PRNewswire-FirstCall/ -- SVB Financial Services, Inc.
shareholders today approved the acquisition of SVB Financial Services, Inc.
(NASDAQ:SVBF) by Fulton Financial Corporation (NASDAQ:FULT), an $11.4 billion
financial holding company based in Lancaster, PA.
The vote at a special shareholders' meeting today clears the way for the merger
to proceed. The merger is now expected to be completed on July 1, 2005.
SVB Financial Services, Inc. is the holding company for Somerset Valley Bank,
which is based in Somerville, NJ. The company has approximately $511 million
in assets and currently operates eleven community banking offices in Somerset,
Hunterdon and Middlesex Counties in New Jersey. Somerset Valley Bank will
become Fulton Financial's 14th banking affiliate and will continue to operate
as Somerset Valley Bank.
Fulton Financial Corporation is a financial holding company that operates 221
banking offices in Pennsylvania, Maryland, Delaware, New Jersey and Virginia
through the following affiliates: Fulton Bank, Lancaster, PA; Lebanon Valley
Farmers Bank, Lebanon, PA; Swineford National Bank, Middleburg, PA; Lafayette
Ambassador Bank, Easton, PA; FNB Bank, N.A., Danville, PA; Hagerstown Trust,
Hagerstown, MD; Delaware National Bank, Georgetown, DE; The Bank, Woodbury, NJ;
Peoples Bank of Elkton, Elkton, MD; Skylands Community Bank, Hackettstown, NJ;
Premier Bank, Doylestown, PA; Resource Bank, Virginia Beach, VA; and First
Washington State Bank, Windsor, NJ.
The Corporation's other financial services providers include Fulton Financial
Advisors, N.A., Lancaster, PA; Fulton Insurance Services Group, Inc.,
Lancaster, PA; and Dearden, Maguire, Weaver and Barrett, LLC, West
Conshohocken, PA. Residential mortgage lending is offered by all banks through
Fulton Mortgage Company and Resource Mortgage.
Additional information on Fulton Financial Corporation is available on the
Internet at http://www.fult.com/.
DATASOURCE: Fulton Financial Corporation
CONTACT: Laura Wakeley, Fulton, +1-717-291-2739; or Keith McCarthy,
SVB Financial Services, Inc., +1-908-541-9500 x305
Web site: http://www.fult.com/