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First Bank shareholders to vote on Delanco deal

Shareholders of Hamilton, N.J.-based First Bank will vote on its pending acquisition of Delanco Bancorp Inc. The companies, however, had to amend their merger agreement to reflect it.

First Bank and Delanco on March 12 adjusted the contract that had originally said the requisite approvals would be from regulators and Delanco shareholders. The adjustment adds that approval by First Bank shareholders is also a condition for deal closing.

First Bank shareholders vote on the deal at their April 24 annual meeting. The parties had expected to close the transaction in the first quarter when they announced it in October of 2017.