Fairfield-based Kearny Financial Corp. on Monday announced that its wholly-owned subsidiary, Kearny Federal Savings Bank, has completed its previously announced acquisition of Atlas Bank, headquartered in Brooklyn, N.Y.
The merger allowed Kearny Financial to issue 1.04 million shares of its common stock to Kearny MHC.
According to the announcement, as of March 31, 2014, Atlas had $116.2 million in assets and $85.3 million in deposits.
With the acquisition, Atlas will now operate under the name “Atlas Bank, a division of Kearny Federal Savings Bank.”
Kearny Federal Savings Bank has 42 branches in northern and central New Jersey, Brooklyn and Staten Island, N.Y.
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