M&A Deal Summary

Kearny Bank Acquires Central Jersey Bancorp.

On May 25, 2010, Kearny Bank acquired financial services company Central Jersey Bancorp. for 72M USD

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

M&A Deal Summary

Date 2010-05-25
Target Central Jersey Bancorp.
Sector Financial Services
Buyer(s) Kearny Bank
Deal Type Merger
Deal Value 72M USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Giordano, Halleran & Ciesla (Legal)

Target

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.

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Buyer(S) 1

Buyer

Kearny Bank

Fairfield, New Jersey, United States

Category Company
Founded 1884
Sector Financial Services
Employees556
Revenue 179M USD (2023)
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 1 of 2
Sector (Financial Services) 1 of 2
Type (Merger) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 1 of 2
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-30 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.

Buy -