MIDLANTIC &lt;MIDL.O> TO ACQUIRE COUNTY BANCORP
  Midlantic Corp said it agreed to
  acquire County Bancorp for about 23 mln dlrs in an agreement
  calling for County Trust Co, a County Bancorp subsidiary, to
  merge into Midlantic National Bank/North.
      Midlantic said it will pay 83.73 dlrs a share in cash, or
  2.36 times County Bancorp's March 31 book value, for each of
  County's about 276,0000 shares outstanding. It said it received
  an option from three principal shareholders for 40 pct of
  County's outstanding.
      The acquisition is expected in the third quarter of 1987
  and is subject to regulatory and shareholder approvals.
  

