Key Developments: Investors Bancorp Inc (ISBC.O)
20.38USD
18 Jun 2013
$0.47 (+2.36%)
$19.91
$20.00
$20.42
$19.85
98,313
138,287
$20.75
$14.49
Latest Key Developments (Source: Significant Developments)
Investors Bancorp Inc Declares Cash Dividend
Investors Bancorp Inc announced that the Board of Directors has declared a cash dividend of $0.05 per share to stockholders of record as of May 10, 2013, payable on May 24, 2013. Full Article
Investors Bancorp Inc Declares Dividend
Investors Bancorp Inc announced that the Board of Directors has declared a cash dividend of $0.05 per share to stockholders of record as of February 11, 2013, payable on February 25, 2013. Full Article
Investors Bancorp Inc and Roma Financial Corp Announce Merger Agreement
Investors Bancorp Inc and Roma Financial Corp jointly announced the signing of a definitive merger agreement. Roma Financial Corporation, MHC (Roma MHC), a federally chartered mutual holding company, owns approximately 74.5% of Roma Financial Corporation. As of September 30, 2012, Roma Financial Corporation operated 26 branches in Burlington, Ocean, Mercer, Camden and Middlesex counties, New Jersey, and had assets of $1.84 billion, deposits of $1.49 billion and stockholders' equity of $218.8 million. Under the terms of the merger agreement, 100% of the shares of Roma Financial will be converted into Investors Bancorp common stock. Each outstanding share of Roma Financial common stock, including shares owned by Roma MHC, will be converted into 0.8653 shares of Investors Bancorp common stock upon completion of the merger. The transaction is valued at $15.00 per Roma Financial common share based on Investors Bancorp's average closing stock price for the ten-day trading period ending on December 18, 2012. Shares to be issued to Investors Bancorp MHC, representing the stock held by Roma MHC, would be reissued in a possible future second step conversion by Investors Bancorp. Upon closing of the merger, Investors Bancorp expects to issue 25,875,411 shares of common stock, including 19,541,701 shares to Investors MHC. The aggregate merger consideration to be received by Roma Financial minority shareholders is $113.5 million. Full Article
Piraeus Bank SA Announces Completion Of Sale Of Marathon Banking Corporation To Investors Bancorp Inc
Piraeus Bank SA announced that on October 15, 2012, the sale of its participation (98.5%) in Marathon Banking Corporation to Investors Bancorp Inc was completed in New York. Piraeus Bank proceeds from the sale were USD133 million representing 1.5 times Marathon's Tangible Book Value. Full Article
Investors Bancorp Inc And Marathon Banking Corporation Receive Approvals to Proceed with Merger
Investors Bancorp Inc and Marathon Banking Corporation jointly announced that they have received all necessary regulatory approvals to proceed with the acquisition of Marathon Banking Corporation by Investors Bancorp. The merger is anticipated to be complete at the close of business on October 15, 2012. Full Article
Investors Bancorp Inc Announces Cash Dividend
Investors Bancorp Inc announced that the Company's Board of Directors has declared its first quarterly cash dividend of $0.05 per share to stockholders of record as of October 15, 2012. This is the Company's first dividend since completing its initial public stock offering in October 2005. Full Article
Investors Bancorp, Inc. To Acquire Marathon Banking Corporation From Piraeus Bank S.A.
Investors Bancorp, Inc. and Marathon Banking Corporation announced a definitive merger agreement under which Investors Bancorp will acquire Marathon Banking Corporation for $135 million in cash consideration. Marathon Banking Corporation is the U.S. subsidiary of Piraeus Bank S.A. and the parent corporation of Marathon National Bank of New York, a federally chartered commercial bank headquartered in Astoria, NY with $902 million in assets, $783 million in deposits, and 13 full-service branches in the New York metropolitan area. Upon completion of this transaction, Investors Bancorp will have 22 New York branches, representing 22% of its total branch network, totaling approximately $1.3 billion in deposits. The merger has been approved by each company's board of directors and is anticipated to close in the fourth quarter of 2012. Full Article
Investors Bancorp, Inc. Announces Acquisition Of Brooklyn Federal Bancorp, Inc.
Investors Bancorp, Inc. and Brooklyn Federal Bancorp, Inc. announced the completion of Investors Bancorp, Inc.'s acquisition of Brooklyn Federal Bancorp, Inc. As previously disclosed, Investors Bancorp, Inc. entered into a separate agreement with a real estate investment fund to sell of Brooklyn Federal Bancorp, Inc.'s commercial real estate loan portfolio. Investors Bancorp, Inc. intends to complete this sale on January 9, 2012. Terms of the transaction were not disclosed. Full Article
Investors Bancorp, Inc. To Acquire Brooklyn Federal Bancorp, Inc
Investors Bancorp, Inc. and Brooklyn Federal Bancorp, Inc. announced the signing of a definitive merger agreement under which Investors Bancorp, Inc. will acquire Brooklyn Federal Bancorp, Inc. for $0.80 per share or approximately $10.3 million in the aggregate. In addition, Investors Bancorp, Inc. entered into a separate agreement with a real estate investment fund to sell most of Brooklyn Federal Bancorp, Inc.'s commercial real estate loan portfolio immediately following the completion of the merger transactions. The terms of the merger agreement specify that Brooklyn Federal Bancorp, Inc., BFS Bancorp, MHC and Brooklyn Federal Savings Bank, will merge with and into Investors Bancorp, Inc., Investors Bancorp, MHC and Investors Savings Bank, respectively. After the mergers, Brooklyn Federal Bancorp, Inc.'s shareholders, other than BFS Bancorp, MHC, will receive $0.80 in cash for each common share they held before the mergers resulting in a total cash payment of $2.9 million. Shares of such stock held by BFS Bancorp, MHC will be converted into common shares of Investors Bancorp, Inc. The mergers have been approved by the Boards of Directors of each company and are expected to close in the fourth quarter of 2011. Full Article
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