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Kearny Federal Savings Bank acquires Atlas Bank

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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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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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