M&A Deal Summary

Columbia Bank Acquires Atlantic Stewardship Bank

On June 7, 2019, Columbia Bank acquired financial services company Atlantic Stewardship Bank for 137M USD

Acquisition Highlights
  • This is Columbia Bank’s 1st transaction in the Financial Services sector.
  • This is Columbia Bank’s largest (disclosed) transaction.
  • This is Columbia Bank’s 1st transaction in the United States.
  • This is Columbia Bank’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2019-06-07
Target Atlantic Stewardship Bank
Sector Financial Services
Buyer(s) Columbia Bank
Deal Type Add-on Acquisition
Deal Value 137M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
McCarter & English (Legal)

Target

Atlantic Stewardship Bank

Midland Park, New Jersey, United States
Stewardship Financial Corporation is a one-bank holding for Atlantic Stewardship Bank. Stewardship's primary business is the ownership and supervision of Atlantic Stewardship Bank. Stewardship, through Atlantic Stewardship Bank, conducts commercial banking business and offers services including personal and business checking accounts, time deposits, money market accounts and regular savings accounts. Stewardship manages its business through its main office in Midland Park, New Jersey.

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Buyer(S) 1

Buyer

Columbia Bank

Fair Lawn, New Jersey, United States
Category Company
Founded 1927
Sector Financial Services
Employees720
Revenue 233M USD (2023)
DESCRIPTION

Columbia Bank is the parent company of Columbia bank. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey. The Bank offers traditional financial services to consumers and businesses in its market areas. Columbia Financial was incorporated in 1927 and is based in Fair Lawn, New Jersey.

DEAL STATS #
Overall 1 of 4
Sector (Financial Services) 1 of 4
Type (Add-on Acquisition) 1 of 3
State (New Jersey) 1 of 4
Country (United States) 1 of 4
Year (2019) 1 of 2
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 Roselle Bank

Roselle, New Jersey, United States

Roselle Bank is a state‐chartered savings bank that provides superior customer service and support of the communities it serves. The main office is located in Roselle, New Jersey, with three branch offices located in Cranford, Bernardsville and High Bridge. As of September 30, 2019, Roselle Bank had total assets of $442 million, loans of $171 million, deposits of $338 million and equity capital of $61 million.

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