Post acquisition, the acquired business has been combined with TF Financial’s banking subsidiary 3rd Fed Bank, which will boost its presence in New Jersey into Burlington and Ocean Counties, New Jersey.
Based on the terms of the merger agreement, for each share of Roebling common stock, its shareholders are getting either $8.6 in cash or 0.364 of a share of TF Financial common stock.
As on 31 March 2013, Roebling had total assets of $156m, deposits of $133m and shareholders’ equity of $17m, while the integrated organization will have approximately $875m in assets and 18 branches across the region.
Commenting on the acquisition, TF Financial president and chief executive officer Kent Lufkin said, "We are excited to announce the completion of the merger and to welcome Roebling’s customers and employees to 3rd Fed Bank."
The Kafafian Group, Spidi & Fisch, PC, Washington, DC served as advisor to TF Financial, for the deal.
Headquartered in Newtown, Pennsylvania, TF Financial runs 18 bank branches in Philadelphia and Bucks County, Pennsylvania and in Burlington, Mercer and Ocean Counties, New Jersey.
