Kearny Financial Corp. and Central Jersey Bancorp Announce Receipt of OTS Approval of Merger
October 21 2010 - 8:30AM
Marketwired
Kearny Financial Corp. (NASDAQ: KRNY) ("Kearny"), the holding
company for Kearny Federal Savings Bank, and Central Jersey Bancorp
(NASDAQ: CJBK) ("Central Jersey"), the holding company for Central
Jersey Bank, N. A., jointly announced that Kearny had received the
required regulatory approval from the Office of Thrift Supervision
to complete its acquisition of Central Jersey pursuant to the terms
of the Agreement and Plan of Merger entered into by the parties on
May 25, 2010. The Agreement and Plan of Merger was approved by the
shareholders of Central Jersey on September 14, 2010. Kearny and
Central Jersey anticipate that the merger will close in the fourth
quarter of 2010.
About Kearny
Kearny Financial Corp. is the parent company of Kearny Federal
Savings Bank, a federally chartered savings bank. Kearny operates
from its administrative headquarters in Fairfield, New Jersey, and
27 retail branch offices located in Bergen, Hudson, Passaic,
Morris, Middlesex, Essex, Union and Ocean Counties, New Jersey. At
June 30, 2010, Kearny Financial Corp. had total assets, deposits
and stockholders' equity of $2.34 billion, $1.62 billion and $485.9
million, respectively. Shares of Kearny Financial Corp. trade on
the Nasdaq Global Select Market under the symbol "KRNY."
About Central Jersey
Central Jersey Bancorp is the holding company and sole
shareholder of Central Jersey Bank, N.A. Central Jersey Bank, N.A.
and provides a full range of banking services to both individual
and business customers through 13 branch facilities located in
Monmouth and Ocean Counties, New Jersey. Central Jersey Bancorp is
traded on the NASDAQ Global Market under the trading symbol "CJBK."
Central Jersey Bank, N.A. can be accessed through the internet at
www.CJBNA.com.
Forward Looking Statements
The foregoing material contains forward-looking statements
concerning Central Jersey and Kearny. We caution that such
statements are subject to a number of uncertainties and readers
should not place undue reliance on any forward-looking statements.
Central Jersey and Kearny do not undertake, and specifically
disclaim, any obligation to publicly release the results of any
revisions that may be made to any forward-looking statements to
reflect the occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.
For further information contact: Craig L. Montanaro President
and Chief Operating Officer Kearny Financial Corp. (973) 244-4510
James S. Vaccaro Chairman, President and CEO Central Jersey Bancorp
(732) 663-4040
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