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]
 | |
| Company type | Subsidiary |
|---|---|
| Nasdaq: ISBC | |
| Industry | Banking |
| Founded | 1926 |
| Defunct | 2023; all branches rebranded as Citizens Bank |
| Headquarters | , 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] |
| Parent | Citizens Financial Group (2022—2023) |
| Subsidiaries | Investors Home Mortgage, Investors Financial |
| Website | www |
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
editIn 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- 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
- ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
- ^ https://www.snl.com/Cache/1001236066.PDF?O=PDF&T=&Y=&D=&FID=1001236066&iid=1032002 [bare URL PDF]
- ^ "Branch and ATM Locations | NY Bank | NJ Bank | Investors Bank".
- ^ "Marathon Banking agrees to purchase by Investor Bancorp". Zephyr. 15 June 2012. Retrieved 2013-08-29.
- ^ Lynne Ranieri (9 August 2010). "Local History: Investors Savings Bank's Legacy". Millburn-ShortHills Patch. Retrieved 2013-08-29.
- ^ "Investors Bancorp, Inc. Stock Quote & Summary Data". NASDAQ. Retrieved 2013-08-29.
- ^ Andy Peters (18 July 2012). "For Banks, New Logo Are More than Skin Deep". American Banker. Retrieved 2013-09-03.
- ^ Tom DePoto (9 May 2014). "Investors Bancorp becomes a publicly owned company, starts trading on NASDAQ". Newark Star-Ledger. Retrieved 2014-05-09.
- ^ "Citizens Financial Group Completes Acquisition of Investors Bancorp" (Press release). 7 April 2022. Retrieved 6 August 2022.
- ^ "North Shore residents will see closures of Investors Bank branches | TBR News Media". 3 February 2023.
- ^ "Bank List".
- ^ "Our History | Investors Bank".
- ^ "Investors Savings Bank Adds New Branches in Essex and Passaic Counties; Moves into Newark and Montclair and Expands in Clifton".
External links
edit- Company Site
- Historical business data for Investors Bancorp, Inc.:
- SEC filings
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