FNB to acquire OBA

FNB to acquire OBA

HERMITAGE, Pa.

First National Bank Corp. announced it will acquire OBA Financial Services Inc., the Maryland-based holding company and parent of OBA Bank, as FNB continues to strengthen its presence in Maryland.

The $94 million transaction will add six locations and $390 million in total assets to FNB’s portfolio.

When the deal closes in the third quarter, FNB will have $1.2 billion in deposits and 31 branch locations in Maryland.

P&G updates policy on palm oil

cincinnati

The Procter & Gamble Co. has updated its policy on palm oil after high-profile protests by Greenpeace at its Cincinnati headquarters.

The world’s largest consumer-products company said Tuesday that it has adopted a “no-deforestation” policy for its palm-oil supply. The new goals go beyond its existing policy and aim to ensure its products do not contribute to deforestation. The company said it will work with suppliers and others to ensure it meets this goal by 2020. It also will establish traceability of its palm oil-related supply by 2015.

The moves came after weeks of pressure from Greenpeace, which unfurled huge banners from the company’s corporate offices last month. Police arrested the activists on burglary and vandalism charges. The group later had protests in five more countries.

Greenpeace said that P&G’s announcement is a huge step toward protecting Indonesia’s rainforests and the communities that depend on them but warned that much work still remains.

Vindicator staff/wire reports