Fulton in Pa. laying off 111 people under branch closure plan

Fulton Financial in Lancaster, Pa., plans to lay off 111 people in conjunction with recently announced branch closings.

The $31.8 billion-asset company disclosed the layoffs in a WARN notice filed earlier this month. The cuts will occur in November and December.

Fulton disclosed in July that it planned to close 13 branches in New Jersey and Pennsylvania, adding that it expected to incur about $10 million of pretax costs in the third quarter tied to the closures.

About $1 million of those costs are tied to employee severance.

The company’s board approved the closures, which should save it $8 million annually, as part of the integration of the failed Republic First Bank in Philadelphia.