PNC Financial Services Group to gobble up Sterling Financial Corp.
Shares of Sterling Financial Corp. (Nasdaq: SLFI) soared this morning after reporting that it is being acquired by the PNC Financial Services Group, Inc. (NYSE: PNC).
PNC said Sterling Financial, which provides banking and other financial services, including leasing, trust, investment and brokerage, to individuals and businesses through 67 branches in Pennsylvania, Maryland and Delaware, will assist PNC in solidifying its footprint in central Pennsylvania through developing a leadership position in deposit share in central Pennsylvania.
Shares of Sterling Financial surged 70.14%, or $7.40, to $17.95 Thursday morning.
