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Prudential Bancorp in Philadelphia has agreed to add a director recommended by activist investor Seidman Group.
August 29
Cheviot Financial in Cincinnati has agreed to add a director recommended by activist investor Seidman Group.
The $581 million-asset company
Siedman Group, in exchange, agreed to support Cheviot's board nominees and cap its stake in the company at 9.9%. The group will also refrain from pushing Cheviot to sell itself or recapitalize.
Seidman Group is led by veteran bank investor Lawrence Seidman. The group recently