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Article: Summit Bancorp to Acquire B.M.J. Financial Corp.
- Article from:
- PR Newswire
- Article date:
- August 29, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PRINCETON, N.J., Aug. 29 /PRNewswire/ -- Summit Bancorp (NYSE: SUB) and B.M.J. Financial Corp. (Nasdaq: BMJF) jointly announced today that they have entered into a definitive merger agreement in which Summit will acquire B.M.J. Financial, in a tax-free exchange of stock. B.M.J. Financial, which operates The Bank of Mid-Jersey, has assets of $650 million in 20 community branches throughout Burlington, Mercer, and Ocean counties.
T. Joseph Semrod, Summit chairman and chief executive officer, said, "This acquisition will enhance Summit's presence in key central and southern New Jersey counties comprising nearly 5,000 businesses and half a million households."
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