Yardville Bancorp shareholders approve merger with PNC Financial

By Lisa Kerner

Charlotte, N.C., Oct. 19 - Yardville National Bancorp shareholders approved the company's merger with PNC Financial Services Group, Inc. at a special meeting held on Friday.

Approximately 88% of the votes cast were voted in favor of merger, according to a company news release.

On June 8, Yardville agreed to be acquired by PNC Financial for $35 per share in a cash and stock deal valued at about $403 million. Total consideration is comprised of some 3.267 million shares of PNC common stock and $156 million in cash, or about 0.2923 of a share of PNC common stock and $14 in cash per share of Yardville stock.

Yardville, based in Hamilton, N.J., operates as the bank holding company for the Yardville National Bank.

PNC is a diversified financial services company based in Pittsburgh.

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