M&A Deal Summary

Spencer Savings Bank Acquires NJM Bank

On June 23, 2014, Spencer Savings Bank acquired financial services company NJM Bank

Acquisition Highlights
  • This is Spencer Savings Bank’s 1st transaction in the Financial Services sector.
  • This is Spencer Savings Bank’s 1st transaction in the United States.
  • This is Spencer Savings Bank’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2014-06-23
Target NJM Bank
Sector Financial Services
Buyer(s) Spencer Savings Bank
Deal Type Add-on Acquisition
Advisor(s) FinPro Capital Advisors (Financial)
McCarter & English (Legal)

Target

NJM Bank

West Trenton, New Jersey, United States
NJM Bank provides services to commercial and personal banking customers. As a wholly owned subsidiary of New Jersey Manufacturers Insurance Company, the Bank traces its philosophical roots to the establishment of its parent company in 1913.

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Buyer(S) 1

Buyer

Spencer Savings Bank

Elmwood Park, New Jersey, United States

Category Company
Sector Financial Services
DESCRIPTION

Spencer Savings Bank, a community bank headquartered in Elmwood Park, NJ, has been serving its local communities with integrity and pride for more than 75 years. The bank, serving consumers and businesses, operates 21 branches throughout New Jersey. Spencer Savings Banks has been a cornerstone in the communities it serves, supporting its local businesses and workforce initiatives as well as numerous civic groups, charitable organizations and youth groups for the past 75 years. Spencer Savings Bank proudly operates 20 branch locations throughout Bergen, Essex, Morris, Passaic, Union counties.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1