July 14, 2020
On July 10, 2020, Kearny Financial Corp., Fairfield, New Jersey (“Kearny”), the holding company for Kearny Bank, completed its acquisition of MSB Financial Corp., Millington, New Jersey (“MSB”), the holding company for Millington Bank. MSB stock was exchanged for a mix of 90% Kearny stock and 10% cash. The transaction was subject to the approval of the FDIC, the New Jersey Department of Banking and Insurance and the stockholders of MSB.
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July 7, 2020
On July 1, 2020, Bridge Bancorp, Inc., Bridgehampton, New York, the holding company for BNB Bank, and Dime Community Bancshares, Inc., Brooklyn, New York, the holding company for Dime Community Bank, entered into a definitive merger agreement, pursuant to which Dime Community Bancshares will merge with and into Bridge Bancorp, with Bridge Bancorp as the resulting company operating under the Dime name, in a merger of equals transaction.
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June 18, 2020
On June 17, 2020, BV Financial, Inc., Edgemere, Maryland, the holding company for BayVanguard Bank, and Delmarva Bancshares, Inc., Cambridge, Maryland, the holding company for 1880 Bank, entered into a definitive merger agreement, pursuant to which Delmarva Bancshares will merge with and into BV Financial, with BV Financial as the resulting company. Delmarva Bancshares shareholders will receive $8.90 in cash per share of Delmarva Bancshares common and preferred stock. The total merger consideration is valued at approximately $54.0 million.
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June 9, 2020
On June 5, 2020, New Buffalo Savings Bank, New Buffalo, Michigan, and its parent company, New Bancorp, Inc., completed a purchase and assumption transaction with Teachers Credit Union ("TCU"), South Bend, Indiana, in which TCU has acquired substantially all the assets and assumed substantially all the liabilities of New Buffalo and New Bancorp in an all-cash transaction.
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June 5, 2020
On June 1, 2020, Melrose Bancorp, Inc., Melrose, Massachusetts, the holding company for Melrose Bank, successfully completed its merger with Cambridge Financial Group, Inc., Cambridge, Massachusetts, the holding company for Cambridge Savings Bank. With approximately $340 million in assets, Melrose Bank operated as a full-service community bank with its office located in Melrose, Massachusetts.
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