Kevin Cummings, President and CEO of Investors, said: building upon our recent acquisition of American Bancorp of New Jersey, this transaction enables us to strategically expand our franchise, leverage our strong financial position and enhance shareholder value.
We look forward to providing the same high quality, personalized level of customer service experienced by the depositors and communities served by these branch offices, he added. Investors expect to retain the current staff at these branch offices.
The transaction is subject to regulatory approval and is expected to close during the quarter ending September.
Investors Bancorp is the holding company for Investors Savings Bank, which operates more than 53 branch offices in the US.
