ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, March 22, 1994                   TAG: 9403230154
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: Associated Press
DATELINE:                                 LENGTH: Short

FIRST FIDELITY TO BUY BALTIMORE BANCORP

Moving closer to its chairman's goal of creating a Boston-to-Baltimore megabank, First Fidelity Bancorp. said Monday it would buy Baltimore Bancorp for $346 million in cash.

First Fidelity, based in Newark, N.J., and already operating more than 600 bank branches stretching from Philadelphia to New Haven, Conn., said it would pay $20.75 per share to Baltimore Bancorp's shareholders, or a little more than twice the stock's book value.

Baltimore Bancorp, a $2.2 billion, 42-office institution, has been on the block since the beginning of the year.

- Knight-Ridder/Tribune 


 by CNB