Key Developments For Investors Bancorp, Inc.
Investors Bancorp, Inc. (ISBC.O) (Nasdaq)
Investors Bancorp, Inc. Announces Change In Fiscal Year End
Investors Bancorp, Inc. announced that its Board of Directors approved a change in the Company's fiscal year end from June 30 to December 31. The change will become effective at the end of the quarter ending December 31, 2009 with the filing of the Company's Form 10-K.
Investors Bancorp, Inc. Announces Completion of Acquisition of 6 New Jersey Branches of Banco Popular North America
Investors Bancorp, Inc. announced that it has completed the acquisition of six New Jersey bank branches and approximately $227.0 million of deposits from Banco Popular North America. The Company did not purchase any loans as part of the transaction. The Company is consolidating Banco Popular's East Orange, New Jersey branch with Investors' existing East Orange branch office. The remaining five acquired branches will be open for business as branches of Investors Savings Bank on October 19, 2009.
Investors Bancorp, Inc. Announces Completion of Acquisition of American Bancorp of New Jersey, Inc.
Investors Bancorp, Inc. announced the completion of the Company's acquisition of American Bancorp of New Jersey, Inc., effective as of May 31, 2009.
Investors Bancorp, Inc. To Acquire $250 Million In Deposits And Six Branches In New Jersey
Investors Bancorp, Inc. announced that Investors Savings Bank, its wholly owned subsidiary, has signed a purchase and assumption agreement with Banco Popular North America to acquire approximately $250 million of deposits and six New Jersey branch offices for a deposit premium of 1.0%. Investors is not acquiring loans as part of this transaction.
Investors Bancorp, Inc. And American Bancorp of New Jersey, Inc. Announce Revised Merger Agreement
Investors Bancorp, Inc. and American Bancorp of New Jersey, Inc. announced that they have amended the merger agreement for Investors Bancorp to acquire American Bancorp of New Jersey. Under the revised terms of the merger agreement, which has been approved by the boards of directors of both companies, 65% of American Bancorp shares will be converted into Investors Bancorp common stock and the remaining 35% will be converted into cash, compared to a 70% stock and 30% cash consideration mix as set forth in the original merger agreement. The exchange ratio of 0.9218 share of Investors Bancorp common stock for each share of American Bancorp common stock (for those American Bancorp shareholders who are to receive Investors Bancorp common stock) remains unchanged. The transaction is expected to close during the second calendar quarter of 2009.
