Investors Bancorp Inc., based in the Short Hills section of Millburn, announced today it has agreed with Robbinsville-based Roma Financial Corp. to extend the deadline for the companies' merger.
Investors Bancorp, Inc. and Roma Financial Corporation have agreed to extend the date after which either party may elect to terminate the merger agreement if the merger has not yet been completed from September 30, 2013 to November 30, 2013, Investors said in a statement.
According to the announcement, the extension resulted from the parties' awaiting approval from the board of governors of the Federal Reserve to move forward with the transaction. Investors filed its regulatory applications with all of the bank regulators in January and received approval from the FDIC and the N.J. Dept. of Banking and Insurance in June. The consideration and exchange ratio, and all other terms as provided in the shareholder-approved merger agreement will remain the same.
The combination was first announced late last year.