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Article: New York Community Bank Buy Jersey City, N.J.-Based Thrift.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 13, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. 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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Knight Ridder/Tribune Business News
Apr. 14 -- Brooklyn's Independence Community Bank Corp. on Tuesday doubled the size of its fledgling New Jersey division by purchasing Statewide Financial Corp., a Jersey City-based thrift with 16 branches in Hudson, Union, and Bergen counties.
Independence, a thrift with assets of $5.3 billion, said it will pay cash and stock totaling $108 million for Statewide, the parent company of Statewide Savings Bank.
The deal comes less than two months after Independence moved into New Jersey for the first time by acquiring Newark-based Broad National Bancorp., a commercial bank with 16 offices in Bergen, Essex, ...