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FDIC approves 1st Constitution Bancorp's acquisition of Shore Community Bank

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FDIC approves 1st Constitution Bancorp's acquisition of Shore Community Bank

The Federal Deposit Insurance Corp. approved Cranbury, N.J.-based 1st Constitution Bancorp's acquisition of Shore Community Bank.

The Toms River, N.J.-based bank will be merged into 1st Constitution Bank. The deal is subject to a number of conditions such as a vote by Shore Community Bank's stockholders on Oct. 18, and the acquisition is expected to close in the fourth quarter.