Anticipating an acquisition, FCNB Corp. holds off on trust offering

FCNB Corp. of Frederick, MD, indefinitely postponed on Jun. 9, 1998, the company's proposed $35-million trust preferred securities offering pending FCNB's purchase of another financial institution. Executives of the company declined to reveal further details regarding the pending acquisition. But according to filings with the US Securities and Exchange Commission, FCNB is poised to purchase a company that has assets of less than $200 million. The agreement is not anticipated to negatively affect the earnings or cash flow of FCNB.