-
Investors Bancorp (ISBC) in Short Hills, N.J., is set to complete its purchase of Gateway Community Financial in Sewell, N.J., next week.
January 3 -
Investors Bancorp (ISBC) in Short Hills, N.J., plans to issue up to $2.5 billion of stock as part of its conversion from a mutual to a stock holding company.
December 20 -
Investors Bancorp (ISBC) in Short Hills, N.J., has received approval from the Federal Reserve Board to buy Roma Financial (ROMA) in Robbinsville, N.J.
December 3
Investors Bancorp (ISBC) in Short Hills, N.J., could raise more than $2.6 billion as part of a highly anticipated second-step conversion.
The $15.6 billion-asset company said in a press release late Friday that it plans to sell 170 million to 264.5 million shares of common stock at $10 each in an offering set to expire on April 11. The amount
Once the shares are sold, they will be exchanged for roughly two to three shares of stock in a new holding company. At that point, the new company will be completely owned by public shareholders. Investor Bancorp MHC will cease to exist.
Keefe, Bruyette & Woods will act as the offering's selling agent. RBC Capital Markets, KBW and Sandler O'Neill will serve as joint book-running managers. Luse Gorman Pomerenk & Schick is serving as legal counsel, while Silver, Freedman, Taff & Tiernan is serving as legal counsel to the underwriters.
Investors had been expected to convert last year, though it had to wait
