Jump to content

Investors Bank: Difference between revisions

Add links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
No edit summary
 
Line 47: Line 47:
Investors Bank was acquired by [[Citizens Financial Group]] in 2022.<ref name="citizens">{{cite press release |url=https://investor.citizensbank.com/about-us/newsroom/latest-news/2022/2022-04-07-120051851.aspx#:~:text=Citizens%20Financial%20Group%20Completes%20Acquisition%20of%20Investors%20Bancorp,-PROVIDENCE%2C%20R.I.%20%2D%2D(&text=Citizens%20Financial%20Group%2C%20Inc.,(%E2%80%9CInvestors%E2%80%9D). |title=Citizens Financial Group Completes Acquisition of Investors Bancorp |date=7 April 2022 |accessdate=6 August 2022}}</ref> By February 28, 2023, all Investors locations were rebranded as Citizens Bank.<ref>{{cite web | url=https://tbrnewsmedia.com/north-shore-residents-will-see-local-investors-bank-branch-closure/ | title=North Shore residents will see closures of Investors Bank branches &#124; TBR News Media | date=3 February 2023 }}</ref>
Investors Bank was acquired by [[Citizens Financial Group]] in 2022.<ref name="citizens">{{cite press release |url=https://investor.citizensbank.com/about-us/newsroom/latest-news/2022/2022-04-07-120051851.aspx#:~:text=Citizens%20Financial%20Group%20Completes%20Acquisition%20of%20Investors%20Bancorp,-PROVIDENCE%2C%20R.I.%20%2D%2D(&text=Citizens%20Financial%20Group%2C%20Inc.,(%E2%80%9CInvestors%E2%80%9D). |title=Citizens Financial Group Completes Acquisition of Investors Bancorp |date=7 April 2022 |accessdate=6 August 2022}}</ref> By February 28, 2023, all Investors locations were rebranded as Citizens Bank.<ref>{{cite web | url=https://tbrnewsmedia.com/north-shore-residents-will-see-local-investors-bank-branch-closure/ | title=North Shore residents will see closures of Investors Bank branches &#124; TBR News Media | date=3 February 2023 }}</ref>


==Acquisitions==
⚫
==Acquisitions<ref>{{Cite web|url=http://www.state.nj.us/dobi/bankmerger_date.htm|title = Bank List}}</ref><ref>{{Cite web|url=https://www.myinvestorsbank.com/About-Us/Our-History|title = Our History &#124; Investors Bank}}</ref>==

⚫
<ref>{{Cite web|url=http://www.state.nj.us/dobi/bankmerger_date.htm|title = Bank List}}</ref><ref>{{Cite web|url=https://www.myinvestorsbank.com/About-Us/Our-History|title = Our History &#124; Investors Bank}}</ref>

*1942: Millburn Building and Loan Association
*1942: Millburn Building and Loan Association
*1943: Connecticut Farms Building and Loan Association, Battle Hill Building and Loan Association
*1943: Connecticut Farms Building and Loan Association, Battle Hill Building and Loan Association

Latest revision as of 00:20, 28 March 2024

Investors Bancorp, Inc.
Company typeSubsidiary of Citizens Financial Group
Nasdaq: ISBC
IndustryBanking
Founded1926
Defunct2023; all branches rebranded as Citizens Bank
Headquarters
Short Hills, New Jersey
,
United States
Area served
New Jersey, New York (some loans available in other states)
$57.9 Million (Q1 2018)[1]
Total assets$25.23 Billion (Q1 2018)[2]
ParentCitizens Financial Group (2022—2023)
SubsidiariesInvestors Home Mortgage, Investors Financial
Websitewww.myinvestorsbank.com

Investors Bank was a publicly traded, full-service bank that was based in Short Hills, New Jersey, USA. The bank operated over 150 branches across New Jersey and New York.[3]

The bank operated from 1926 until 2022 as an independent entity, then was purchased by Citizens Financial Group. Investors Bank continued to operate as a subsidiary of Citizens while the company worked to merge the operations of the two banks into one; this was completed on February 28, 2023, when all Investors Bank branches were rebranded as Citizens Bank.

History

[edit]

In 1926, the bank was incorporated as the Washington Rock Building and Loan Association.[4] Sixteen years later, its name changed to Investors Savings and Loan Association. Through mergers, acquisitions, and internal expansion, the bank grew and eventually changed its name to Investors Savings Bank.[5]

In 1997, Investors changed from a New Jersey-chartered mutual savings bank to a New Jersey-chartered stock savings bank, and reorganized as a two-tiered holding company. The bank became a wholly owned subsidiary of Investors Bancorp, Inc., a Delaware-chartered, mid-tier stock holding company, and Investors Bancorp Inc. became a wholly owned subsidiary of Investors Bancorp MHC.

In 2005, Investors Bancorp Inc. became a partially public company, trading common stock on the NASDAQ.[6] In 2011, the bank rebranded itself and changed its name to Investors Bank.[7] On May 8, 2014, Investors Bancorp became a fully public company.[8]

Investors Bank was acquired by Citizens Financial Group in 2022.[9] By February 28, 2023, all Investors locations were rebranded as Citizens Bank.[10]

Acquisitions

[edit]

Sources:[11][12]

  • 1942: Millburn Building and Loan Association
  • 1943: Connecticut Farms Building and Loan Association, Battle Hill Building and Loan Association
  • 1947: Brick Church Savings and Loan Association
  • 1958: Lyons Farms Building and Loan Association
  • 1963: Divident Hill Savings and Loan Association
  • 1969: Plainfield Savings and Loan Association
  • 1973: Camptown Savings and Loan Association
  • 1977: Supreme Savings and Loan Association
  • 1991: East Jersey Savings Bank
  • 1995: five Carteret Federal Savings Bank branches
  • 2008: Summit Federal Savings Bank
  • 2009: American Bank of New Jersey, six Banco Popular branches in New Jersey[13]
  • 2010: seventeen Millennium BCP Bank branches (entire US operations; four branches were later sold by Investors Bank)
  • 2012: Brooklyn Federal Savings Bank, Marathon Bank
  • 2013: Roma Bank, RomAsia Bank
  • 2014: GCF Bank
  • 2019: Gold Coast Bank
  • 2021: eight New Jersey and eastern Pennsylvania branches of Berkshire Bank

References

[edit]
  1. ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
  2. ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
  3. ^ "Branch and ATM Locations | NY Bank | NJ Bank | Investors Bank".
  4. ^ "Marathon Banking agrees to purchase by Investor Bancorp". Zephyr. 15 June 2012. Retrieved 2013-08-29.
  5. ^ Lynne Ranieri (9 August 2010). "Local History: Investors Savings Bank's Legacy". Millburn-ShortHills Patch. Retrieved 2013-08-29.
  6. ^ "Investors Bancorp, Inc. Stock Quote & Summary Data". NASDAQ. Retrieved 2013-08-29.
  7. ^ Andy Peters (18 July 2012). "For Banks, New Logo Are More than Skin Deep". American Banker. Retrieved 2013-09-03.
  8. ^ Tom DePoto (9 May 2014). "Investors Bancorp becomes a publicly owned company, starts trading on NASDAQ". Newark Star-Ledger. Retrieved 2014-05-09.
  9. ^ "Citizens Financial Group Completes Acquisition of Investors Bancorp" (Press release). 7 April 2022. Retrieved 6 August 2022.
  10. ^ "North Shore residents will see closures of Investors Bank branches | TBR News Media". 3 February 2023.
  11. ^ "Bank List".
  12. ^ "Our History | Investors Bank".
  13. ^ "Investors Savings Bank Adds New Branches in Essex and Passaic Counties; Moves into Newark and Montclair and Expands in Clifton".
[edit]
  • Company Site
    • Historical business data for Investors Bancorp, Inc.:
    • SEC filings


Stub icon

This United States bank-related article is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Investors_Bank&oldid=1215928678"