WEST PALM BEACH, Fla., Nov. 20 /PRNewswire-FirstCall/ -- At a Special
Meeting of Shareholders held today, the shareholders of Fidelity
Bankshares, Inc. (Nasdaq: FFFL), approved its merger with National City
Corp. (NYSE: NCC). The transaction is expected to close in January 2007.
Fidelity Bankshares merger with National City was announced on July 27,
2006. Under terms of the agreement, Fidelity stockholders may elect to
receive $39.50 in cash or 1.0977 shares of NCC common stock subject to
allocation procedures that will allow 50 percent of the FFFL shares
outstanding to receive cash and 50 percent to receive stock.
Fidelity Bankshares, Inc. operates Fidelity Federal Bank & Trust. The
Bank, based in West Palm Beach, has assets of $4.43 billion and 51 branch
offices in Palm Beach, Martin, Broward, and St. Lucie counties.
SOURCE Fidelity Bankshares, Inc.
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Related links:
http://www.fidfed.com
CONTACT:
Vince A. Elhilow, President and Chief
Executive Officer, or Richard D. Aldred, Chief Financial Officer,
of Fidelity Bankshares, Inc., +1-561-803-9900
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