Fidelity buying Bangor bank

Fidelity Deposit and Discount Bank’s parent company is scooping up a Northampton County bank in a deal that will expand its footprint into the Lehigh Valley.

Fidelity D&D Bancorp Inc. will acquire MNB Corp. and its whollyowned subsidiary Merchant’s Bank of Bangor, which has nine branches in the Lehigh Valley county, according to a Tuesday announcement.

Fidelity will pay shareholders 1.039 shares for one share of MNB stock, an allstock deal worth $78.5 million. Two MNB board members will sit on Fidelity’s board, and all MNB branches will rebrand under the Fidelity flag.

The banks expect to close the deal in the second quarter 2020.