Investors Bancorp closes on Marathon acquisition

Associated Press Published: October 16, 2012
Advertisement
;

SHORT HILLS, N.J. (AP) — Investors Bancorp Inc. has closed on its $135 million acquisition of Marathon Banking.

The deal was announced in June.

Marathon Banking Corp. is the U.S. subsidiary of Greece's Piraeus Bank SA and the parent of Marathon National Bank.

The combined company has about $12.4 billion in assets, $8.7 billion in deposits and 100 branch locations.

"The addition of Marathon more than doubles our branch network in the New York market and provides opportunities for us to enhance our commercial franchise," Investors Bancorp President and CEO Kevin Cummings said in a statement.

Shares of Investors Bancorp, which is based in Short Hills, N.J., rose 5 cents to $18.21 in afternoon trading on Tuesday.



Trending Now


AROUND THE WEB

  1. 1
    Drought-stricken California may restrict outdoor water use
  2. 2
    Eva Mendes, Ryan Gosling pregnancy sparks Twitter shock from fans - NY Daily News
  3. 3
    Advocates for blind, deaf want more from Apple
  4. 4
    World Cup Fan Scores Modeling Gig From Cheering
  5. 5
    University of Pittsburgh student seeks assistance to pay for college after parents cut her off...
+ show more