Clifton in New Jersey Has Raised $171M from Conversion

By Sarah Todd March 19, 2014, 4:55 p.m. EDT 1 Min Read

Community banking

Clifton in New Jersey Approved to Reorganize

Clifton Savings Bancorp (CSBK) in Clifton, N.J., has received approval from the Federal Reserve Board to start a second-step conversion.

By Evan Nemeroff

February 7
Community banking

Clifton Savings in N.J. Begins Second-Step Conversion

Clifton Savings Bancorp (CSBK) in Clifton, N.J., is moving forward with a long-planned second-step conversion.

By Sarah Todd

November 21
Community banking

Clifton Savings in New Jersey Hires President, CEO

Clifton Savings Bancorp said Paul Aguggia, 50, will take over as the $1 billion-asset company's chairman, CEO and president on Jan. 1.

By Sarah Todd

September 4

Clifton Savings Bancorp (CSBK) in Clifton, N.J., received orders for more than $170 million of common stock in a subscription offering tied to its second-step conversion.

The $1.1 billion-asset company said it expects to complete the offering and its conversion to a stock company in early April. Based on the offering's results, Clifton said it will not conduct community, syndicated or firm commitment public offerings.

Clifton's plan to reorganize was approved by the Federal Reserve Board in early February. The company hired Paul Aguggia as its chairman, president and chief executive in January.

Sarah Todd

Deputy Editor, BankThink

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