TITLE

A New Jersey Thrift's Grand Plan

AUTHOR(S)
BARBA, ROBERT
PUB. DATE
August 2011
SOURCE
Mergers & Acquisitions Report;8/22/2011, Vol. 24 Issue 34, p10
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the plan of Short Hills, New Jersey-based Investors Bancorp Inc. to acquire Brooklyn Federal Bancorp Inc. in New York prior to its conversion to an all-stock company. The estimated value of the transaction is 10.3 million U.S. dollars. Kevin Cummings of Investors explains that they plan to acquire one or two more mutual holding company before the conversion. Analyst Matthew Kelley of Sterne Agee & Leach Inc. explains the benefit of the deal to Investors.
ACCESSION #
66187373

 

Related Articles

  • At Least One Deal in New Jersey Thrift's Grand Plan. Barba, Robert // American Banker;8/18/2011, Vol. 176 Issue 128, p10 

    The article discusses Investors Bankcorp Inc.'s plan to become an all-stock company and its agreement to acquire Brooklyn Federal Bancorp Inc. The $10.3 million deal between the two U.S. mutual holding companies includes $2.9 million for public shareholders and the rest as a share swap for the...

  • Investors Bancorp Plans Second-Step Conversion. Peters, Andy // American Banker;12/19/2013, Vol. 178 Issue 194, p17 

    The article reports on the move of Short Hills, New Jersey-based financial services company Investors Bancorp Inc. (IB) which submitted registration papers dissolve and convert its mutual holding firm to a fully stock-owned firm. IB is reportedly planning to use the conversion's proceeds to fund...

  • Banking on the future. BURD, JOSHUA // njbiz;5/19/2014, Vol. 27 Issue 20, p1 

    The article reports that bank Investors Bancorp Inc. has experienced growth under the leadership of its chief executive officer (CEO) Kevin Cummings. It states that growth of the bank with more than 18 billion dollars in assets is due to organic growth and acquisitions. Cummings mentions that...

  • Once N.J.'s 'Best Kept Secret,' Investors Bancorp Thinking Big. Barba, Robert // American Banker;3/19/2015, Vol. 180 Issue 42, p1 

    An interview with Kevin Cummings, chief executive officer of financial services firm Investors Bancorp, is presented. Cummings discusses the progress of integrating the company's deals as of March 2015 including the eight institutions in the years leading up to the second-step conversion. He...

  • N.J. Thrift Finds Revenue In Buying Remittance Line. Davidson, Kate // American Banker;12/16/2010, Vol. 175 Issue 193, p1 

    The article discusses financial-services firm Investors Bancorp Inc.'s acquisition of a remittances business by virtue of its purchase of 17 bank branches from the U.S. arm of Portuguese financial-services firm Millennium BCP. Investors Bancorp chief executive Kevin Cummings said the deal could...

  • Growth-Minded N.J. Bank Still Looking for Deals. Monks, Matthew // American Banker;1/12/2012, Vol. 177 Issue 7, p2 

    The article focuses on the New Jersey bank Investors Bancorp Inc., the bank's chief executive officer Kevin Cummings, and the bank's purchases of Brooklyn Federal Bancorp and People's United Financial Inc.

  • A New Jersey Thrift's Grand Plan for Expansion Partners. Barba, Robert // National Mortgage News;8/22/2011, Vol. 35 Issue 46, p2 

    The article announces that the Investors Bancorp Inc. is seeking partners for the company's plan in conversion to all-stock company. It has been heard that the asset mutual holding firm will acquire Brooklyn Federal Bancorp Inc. in New York, which has also been struggling financially. Moreover,...

  • Brooklyn Federal Selling 30%. Reosti, John // American Banker;12/28/2004, Vol. 169 Issue 247, p5 

    Announces that Brooklyn Federal Bancorp Inc., a mutual thrift in New York City, plans to raise millions of dollars by selling a thirty percent stake to investors. Profile of Brooklyn Federal, which is the 16th company in 2004 to convert to a mutual holding company; Consideration of how the...

  • Dividend Issue Could Put A Halt to MHC Conversions. Peters, Andy // American Banker;4/18/2012, Vol. 177 Issue 60, p4 

    The article discusses U.S. regulatory agencies' rules on dividends and their potential impact on second-step conversions of mutual holdings companies (MHCs). Investors Bancorp is seeking the Federal Reserve Board's approval to pay out a dividend to outside shareholders before the conversion. The...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics