Investors Bancorp, Inc. and American Bancorp of New Jersey, Inc. Receive Approvals to Proceed With Merger and Announce Dates of
April 14 2009 - 4:54PM
PR Newswire (US)
SHORT HILLS, N.J. and BLOOMFIELD, N.J., April 14
/PRNewswire-FirstCall/ -- Investors Bancorp, Inc. (NASDAQ:ISBC) and
American Bancorp of New Jersey, Inc. (NASDAQ:ABNJ) jointly
announced today that they have received all necessary regulatory
approvals to proceed with the acquisition of American Bancorp by
Investors Bancorp. American Bancorp also announced that all proxy
materials for its annual meeting of shareholders to be held on May
19, 2009 were mailed to American Bancorp shareholders on or about
April 13, 2009. Matters to be addressed by shareholders at that
meeting include the acquisition of American Bancorp of New Jersey,
Inc. by Investors Bancorp, Inc. The shareholder record date for the
annual meeting is March 31, 2009. American Bancorp has separately
mailed to its stockholders the election materials relating to its
acquisition by Investors Bancorp. Shareholders can complete and
return these materials as instructed to elect their preferred form
and allocation of merger consideration - between cash, Investors
Bancorp, Inc. stock, or a combination thereof - which will be
exchanged for their American Bancorp common stock. American Bancorp
stockholders have until May 18, 2009 to return their election
materials. All cash and stock elections are subject to the
allocation and pro-ration procedures as described in the Proxy
Statement/Prospectus dated April 10, 2009. About Investors Bancorp
Investors Bancorp, Inc. is the holding company for Investors
Savings Bank, a New Jersey chartered savings bank which operates
from its corporate headquarters in Short Hills, New Jersey, and
fifty-three branch offices located in Essex, Hunterdon, Middlesex,
Monmouth, Morris, Ocean, Somerset, Union and Warren Counties, New
Jersey. About American Bancorp of New Jersey American Bancorp of
New Jersey, Inc. is a New Jersey corporation organized in May 2005
for the purpose of being the holding company for American Bank of
New Jersey, a federally-chartered stock savings bank. American
Bancorp maintains its headquarters and one full service bank branch
in Bloomfield, New Jersey with four additional branch locations in
Cedar Grove, Verona, Nutley and Clifton, New Jersey.
Forward-Looking Statements This press release contains
forward-looking statements with respect to Investors Bancorp, Inc.
and American Bancorp of New Jersey, Inc. These forward-looking
statements involve certain risks and uncertainties. Factors that
may cause actual results to differ materially from those
contemplated by such forward-looking statements, include among
others, the following possibilities: (1) changes in the interest
rate environment; (2) competitive pressure among financial services
companies; (3) general economic conditions including an increase in
non-performing loans that could result from an economic downturn;
(4) changes in legislation or regulatory requirements; (5)
difficulties in continuing to improve operating efficiencies; (6)
difficulties in the integration of acquired businesses; and (7)
increased risk associated with an increase in commercial
real-estate and business loans and non-performing loans.
DATASOURCE: Investors Bancorp, Inc. CONTACT: Domenick Cama, EVP and
Chief Operating Officer, Investors Bancorp, +1-973-924-5105, or
Eric Heyer, SVP and Chief Financial Officer, American Bancorp of
New Jersey, +1-973-748-3600
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