At a meeting of the National Bank of Lansford this morning, the agreement to merge the bank with and into the First Valley Bank of Bethlehem was approved.

The merger plans call for an exchange of 7½ shares of First Valley Corporation, of which the Bethlehem bank is a subsidiary, with one share of the First National Bank of Lansford stock.

On Sept. 30, First Valley reported total assets of $154,704,788 and total deposits of $132,468,763. The First National Bank of Lansford on Sept. 30 reported total assets of $6,180,474 and total deposits of $5,530,155.

First Valley operated 11 offices while First National is a unit bank.