{"id":521618,"date":"2021-08-02T16:24:13","date_gmt":"2021-08-02T20:24:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\/"},"modified":"2021-08-02T16:24:13","modified_gmt":"2021-08-02T20:24:13","slug":"fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\/","title":{"rendered":"FDIC Approves Investors Bank&#8217;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SHORT HILLS, N.J.<\/span>, <span class=\"xn-chron\">Aug. 2, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Investors Bancorp, Inc. (NASDAQ: ISBC) (&#8220;Investors Bancorp&#8221;), the parent company of Investors Bank, announced today that the Federal Deposit Insurance Corporation has approved Investors Bank&#8217;s acquisition of the eight <span class=\"xn-location\">New Jersey<\/span> and eastern <span class=\"xn-location\">Pennsylvania<\/span> branches of Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB). <\/p>\n<p>The acquisition is expected to be completed on <span class=\"xn-chron\">August 27, 2021<\/span>, subject to the satisfaction of a number of customary closing conditions set forth in the definitive purchase and assumption agreement dated as of <span class=\"xn-chron\">December 2, 2020<\/span> between Investors Bank and Berkshire Bank.\u00a0 With receipt of the FDIC approval, all required regulatory approvals for the transaction have been received by Investors Bank.\u00a0 The transaction includes the assumption and acquisition of approximately <span class=\"xn-money\">$633 million<\/span> of deposits and <span class=\"xn-money\">$253 million<\/span> of consumer and commercial loans, together with the related operations. <\/p>\n<p>\n        <b>About Investors Bancorp, Inc.<\/b>\n      <\/p>\n<p>Investors Bancorp, Inc. is the holding company for Investors Bank, which operates from its corporate headquarters in <span class=\"xn-location\">Short Hills, New Jersey<\/span> and 146 branches located throughout <span class=\"xn-location\">New Jersey<\/span> and <span class=\"xn-location\">New York<\/span>.<\/p>\n<p>\n        <b>Forward Looking Statements<\/b>\n      <\/p>\n<p>This communication contains forward-looking statements with respect to the proposed mergers that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.\u00a0 These forward-looking statements speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time.\u00a0 Investors Bancorp assumes no obligation for updating any such forward-looking statements at any time.<\/p>\n<p>\n        <b>Investor Relations Contact<\/b>\n      <\/p>\n<p>Investors Bancorp, Inc. <br \/>Contact:\u00a0 <span class=\"xn-person\">Marianne Wade<\/span><br \/>(973) 924-5100 <br \/><a target=\"_blank\" href=\"mailto:investorrelations@investorsbank.com\" rel=\"nofollow noopener\">investorrelations@investorsbank.com<\/a><\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY62032&amp;sd=2021-08-02\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania-301346394.html\">https:\/\/www.prnewswire.com\/news-releases\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania-301346394.html<\/a><\/p>\n<p>SOURCE  Investors Bancorp, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY62032&amp;Transmission_Id=202108021620PR_NEWS_USPR_____NY62032&amp;DateId=20210802\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SHORT HILLS, N.J., Aug. 2, 2021 \/PRNewswire\/ &#8212;\u00a0Investors Bancorp, Inc. (NASDAQ: ISBC) (&#8220;Investors Bancorp&#8221;), the parent company of Investors Bank, announced today that the Federal Deposit Insurance Corporation has approved Investors Bank&#8217;s acquisition of the eight New Jersey and eastern Pennsylvania branches of Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB). The acquisition is expected to be completed on August 27, 2021, subject to the satisfaction of a number of customary closing conditions set forth in the definitive purchase and assumption agreement dated as of December 2, 2020 between Investors Bank and Berkshire Bank.\u00a0 With receipt of the FDIC approval, all required regulatory approvals for the transaction have been received by Investors Bank.\u00a0 The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FDIC Approves Investors Bank&#8217;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-521618","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FDIC Approves Investors Bank&#039;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FDIC Approves Investors Bank&#039;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SHORT HILLS, N.J., Aug. 2, 2021 \/PRNewswire\/ &#8212;\u00a0Investors Bancorp, Inc. (NASDAQ: ISBC) (&#8220;Investors Bancorp&#8221;), the parent company of Investors Bank, announced today that the Federal Deposit Insurance Corporation has approved Investors Bank&#8217;s acquisition of the eight New Jersey and eastern Pennsylvania branches of Berkshire Bank, the wholly-owned subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB). The acquisition is expected to be completed on August 27, 2021, subject to the satisfaction of a number of customary closing conditions set forth in the definitive purchase and assumption agreement dated as of December 2, 2020 between Investors Bank and Berkshire Bank.\u00a0 With receipt of the FDIC approval, all required regulatory approvals for the transaction have been received by Investors Bank.\u00a0 The &hellip; Continue reading &quot;FDIC Approves Investors Bank&#8217;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-02T20:24:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY62032&amp;sd=2021-08-02\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"FDIC Approves Investors Bank&#8217;s Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania\",\"datePublished\":\"2021-08-02T20:24:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/\"},\"wordCount\":288,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY62032&amp;sd=2021-08-02\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fdic-approves-investors-banks-acquisition-of-8-berkshire-bank-branches-in-new-jersey-and-eastern-pennsylvania\\\/\",\"name\":\"FDIC Approves Investors Bank's Acquisition of 8 Berkshire Bank Branches in New Jersey and Eastern Pennsylvania - 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