M&A Deal Summary

Kearny Bank Acquires Atlas Bank

On January 30, 2014, Kearny Bank acquired financial services company Atlas Bank

Acquisition Highlights
  • This is Kearny Bank’s 2nd transaction in the Financial Services sector.
  • This is Kearny Bank’s 2nd transaction in the United States.
  • This is Kearny Bank’s 1st transaction in New York.

M&A Deal Summary

Date 2014-01-30
Target Atlas Bank
Sector Financial Services
Buyer(s) Kearny Bank
Deal Type Merger
Advisor(s) Sandler O'Neill + Partners (Financial)
Kilpatrick Townsend & Stockton (Legal)

Target

Atlas Bank

Brooklyn, New York, United States
Atlas Bank is headquartered in Brooklyn, New York with an office on Staten Island. At December 31, 2013, Atlas Bank had approximately $113 million in total assets.

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Buyer(S) 1

Buyer

Kearny Bank

Fairfield, New Jersey, United States

Category Company
Founded 1884
Sector Financial Services
Employees552
Revenue 141M USD (2024)
DESCRIPTION

Kearny Bank is the parent company of Kearny Federal Savings Bank, a federally chartered savings bank. Kearny operates from its administrative headquarters in Fairfield, New Jersey, and 27 retail branch offices located in Bergen, Hudson, Passaic, Morris, Middlesex, Essex, Union and Ocean Counties, New Jersey. At March 31, 2010, Kearny Financial Corp. had total assets, deposits and stockholders' equity of $2.25 billion, $1.54 billion, and $482.0 million. Kearny Bank was founded in 1884 and is based in Fairfield, New Jersey.


DEAL STATS #
Overall 2 of 2
Sector: Financial Services M&A 2 of 2
Type: Merger M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-25 Central Jersey Bancorp.

Oakhurst, New Jersey, United States

Central Jersey Bancorp is the holding company and sole shareholder of Central Jersey Bank, N.A. Central Jersey Bank, N.A. and provides a full range of banking services to both individual and business customers through 13 branch facilities located in Monmouth and Ocean Counties, New Jersey.

Buy $72M