As per terms of the agreement, each share held by Flatbush Federal Bancorp’s stockholders will receive 0.4748 shares of the acquirer based on the closing price on 2 November 2012.
Following completion of the deal, Northfield has now a total of nine branch offices in Brooklyn.
Established in 1887, the acquirer operates 29 full service banking offices in Staten Island and Brooklyn, New York, and Middlesex and Union counties, New Jersey.
Founded in 1883, FLTB is the parent company of Flatbush Federal Savings & Loan Association and operates as an independent community bank offering complete banking and financial services in Brooklyn, New York.
