The combined institution has $8.0 billion in assets, $5.3 billion in deposits and 58 branches facilitating northern and central New Jersey.
Kevin Cummings, President and CEO of Investors Bancorp, said: “Investors Bancorp’s acquisition of American Bancorp is the combination of two financially sound banks with conservative credit cultures and deep commitments to their customers and the communities they serve.
The addition of American Bancorp will enhance and expand our presence in Essex and Passaic Counties and is consistent with our disciplined approach to capital management, he added.
