Fulton Financial in Lancaster, Pa., plans to close 13 branches in Pennsylvania and New Jersey.
The company disclosed in a regulatory filing that the branches will close by Nov. 22. The board approved the closures plan as part of the bank’s integration of the failed Republic First Bank.
Fulton said it expects to incur pretax costs of about $10 million in the third quarter, including $6 million of writeoffs of premises and equipment, roughly $3 million of lease termination charges, and $1 million from employee severance.
The company said the closures should save about $8 million annually, beginning early next year.